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Nvidia has agreed to acquire AI platform Hugging Face for $12.9 billion (roughly Rs. 1.23 lakh crore), The Information reported. The New York-based company, often called the 'GitHub of AI', hosts open-source models, datasets and developer tools. The deal would expand Nvidia beyond AI hardware into the software layer where developers discover, share, optimise and deploy AI models.

Nvidia has agreed to acquire Hugging Face, the widely used open-source AI model repository, for $12.9 billion (roughly Rs. 1.23 lakh crore). Hugging Face, based in New York, operates a platform often described as the 'GitHub of AI', hosting a vast library of open-source large language models, datasets and developer tools spanning natural language processing and computer vision.

This update was first reported by The Information. The deal would give Nvidia, which already dominates the hardware used to train and run many of the models on Hugging Face's platform, a significant foothold higher up the AI stack, at the layer where developers discover, share, optimise and deploy models.

A steep price jump from its last valuation

The reported $12.9 billion price tag marks a sharp climb from Hugging Face's last funding round, when it raised $235 million in 2023 at a $4.5 billion valuation, with Nvidia among the backers alongside Google, Amazon, Salesforce, IBM, Intel, AMD, Qualcomm and Sound Ventures. Nvidia had previously tried to invest $500 million in the company last year at a $7 billion valuation, an offer Hugging Face turned down, according to a Financial Times report in January.