NVIDIA is in talks to acquire Hugging Face for over $13 billion

Insightful Beating AI News Update, according to Business Insider, NVIDIA (NVDA) is reportedly in negotiations to acquire the well-known AI platform Hugging Face, which focuses on the sharing and development of open-source models. This deal could potentially be one of the largest to date for the chip giant. Sources revealed that the two parties have been in serious discussions over the past few weeks regarding a deal valued at over $13 billion. Currently, the two companies have not reached an agreement, and the negotiations could still fall through.

Insiders also disclosed that Microsoft (MSFT) had previously met with Hugging Face, but there has been no further contact between the two parties. According to earlier reports, at the end of last year, Hugging Face turned down a $500 million investment offer from NVIDIA, which would have valued Hugging Face at $7 billion. At that time, Hugging Face stated that they did not want a majority investor that could influence decision-making.