Nvidia closes in on Hugging Face acquisition

3:05 AM ETDeveloping

Technology Desk

Hugging Face turned down a $500 million investment offer from Nvidia late last year that would have valued it at $7 billion, the Financial Times previously reported. Nvidia has agreed to buy Hugging Face for $12.9 billion, The Information reported Wednesday night, citing a source familiar with the matter.

Hugging Face said at the time it didn’t want a dominant investor that could sway its decisions. If those customers end up not using all the computing power they signed up for, Nvidia could get stuck with it.

The Information reported it was recently generating about $150 million a year in revenue, up from roughly $100 million just two months earlier.

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Nvidia has agreed to buy Hugging Face for $12.9 billion, The Information reported Wednesday night, citing a source familiar with the matter.
If those customers end up not using all the computing power they signed up for, Nvidia could get stuck with it.
Hugging Face turned down a $500 million investment offer from Nvidia late last year that would have valued it at $7 billion, the Financial Times previously reported.
Hugging Face said at the time it didn’t want a dominant investor that could sway its decisions.
The Information reported it was recently generating about $150 million a year in revenue, up from roughly $100 million just two months earlier.

Sources

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