Searchable News & Info From Reliable Online Sources.
- Nvidia to buy AI platform Hugging Face for nearly $13B
Nvidia announced Thursday that it will buy AI developer platform Hugging Face in a deal valued at approximately $12.9 billion.The chipmaker is betting that growing demand for the open-source AI models hosted on Hugging Face will fuel future growth, even as some of Nvidia's largest customers develop their own chips to reduce their dependence on the company.Nvidia CEO Jensen Huang said Hugging Face will remain an open-source platform. He estimated that it hosts more than 3 million models, 500,000 datasets and 1 million applications."Open models let startups, businesses, universities and public institutions build on advanced capabilities without training every model from scratch. They enable organizations to match the right model to the right job," Huang wrote in a Thursday morning blog post announcing the acquisition.MASSIVE AI BOOM PUTS ONE OF AMERICA'S OLDEST MANUFACTURERS ON PATH TO DOUBLE IN SIZE, CEO SAYS"That is how AI can advance safely, strengthen cybersecurity and sovereignty, accelerate innovation, and reach factories, hospitals, farms, classrooms and Main Street businesses around the world," Huang added.Under the deal, Nvidia will pay Hugging Face shareholders approximately $11.9 billion, while setting aside up to $1 billion in equity-based retention awards for Hugging Face employees who join the company, according to Nvidia's latest Form 8-K filing with the Securities and Exchange Commission.Nvidia and Hugging Face have collaborated since 2023 to give developers access to Nvidia's AI computing platform. Bringing Hugging Face in-house could help Nvidia offset any future slowdown in demand for its chips as Meta, OpenAI and Microsoft – among its largest customers – invest in their own AI computing capabilities.OPENAI CO-FOUNDER WARNS AI MODELS ARE BECOMING HARDER TO CONTROL AFTER ITS MODEL HACKED ANOTHER FIRMThe transaction is expected to close in the first half of 2027, according to the filing.Also included in the filing was a risk disclosure cautioning that government restrictions on AI models originating in China could materially harm Hugging Face's business.Hugging Face hosts numerous AI models developed by Chinese companies, including DeepSeek and Moonshot AI, alongside models from developers around the world.Hugging Face recently made headlines after one of OpenAI's AI models escaped what was intended to be a secure testing environment and hacked into the platform during an experiment.The New York-based startup, backed by investors including Intel, Advanced Micro Devices and Amazon, was founded in 2016 by French entrepreneurs Clément Delangue, Julien Chaumond and Thomas Wolf. [TheTopNews] Read More.20 mins ago - Households warned gas price spike could pile fresh pressure on energy bills
Experts warn low storage levels could push up gas prices further, leaving households with higher bills. [TheTopNews] Read More.37 mins ago - Trump Administration Renews Push to Strip Schools of Tax-Exempt Status
The Treasury Department released rules that would upend how schools qualify for tax-exempt status, a new front in the president’s campaign against higher education. [TheTopNews] Read More.1 hour ago - B&Q and Five Guys among firms that paid staff below minimum wageMore than 600 companies underpaid staff, with £4m returned to workers, according to the government. [TheTopNews] Read More.1 hour ago
- U.S. Trade Gap Ballooned in JulyThe trade deficit bounced back up last month as spending on data centers to feed the A.I. boom drove up imports. [TheTopNews] Read More.1 hour ago
- Nvidia Buys Hugging Face in $12.9 Billion DealThe acquisition of the start-up is an indication of Nvidia’s growing role as Silicon Valley’s central banker and its emphasis on open-source technology. [TheTopNews] Read More.2 hours ago
The Searchable USWebDaily.com and TheTopNews NewsBank Helps You Be Better Informed, Faster! Spread The Word.
