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Nvidia is buying open-source AI platform Hugging Face for nearly $13 billion

The chipmaker agreed to pay $11.9 billion to Hugging Face stockholders, plus up to $1 billion in retention awards for employees who join Nvidia

Ying Tang/NurPhoto via Getty Images

Nvidia $NVDA agreed to acquire Hugging Face, an open-source AI model platform, for approximately $12.9 billion, the company said Wednesday.

The deal's total value breaks down into an $11.9 billion payment to Hugging Face stockholders, subject to certain adjustments, along with as much as $1 billion in equity-based retention awards for Hugging Face employees who come on board at Nvidia, the company said. The deal is expected to........

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