Nvidia says it will buy Hugging Face for $12.93 billion
Chip designer Nvidia NVDA.O was up 0.5% at $225.49 premarket.
Nvidia said it will buy developer platform Hugging Face for $12.93 billion.
"Hugging Face will remain an open platform for the entire AI ecosystem" — Nvidia CEO Jensen Huang.
Nvidia will pay about $11.9 billion to Hugging Face investors, while offering an equity-based retention program of up to $1 billion for employees who join Nvidia.
As of the last close, NVDA was up about 20% this year.
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