Nvidia buys Hugging Face for $12.9 billion

Nvidia agreed to buy Hugging Face for $12.9 billion, nearly triple its 2023 valuation of $4.5 billion. The deal values the ten-year-old startup at roughly 86 times its $150 million annualized revenue. Hugging Face hosts over 3 million open-source LLMs and is expanding into robotics.