Abstract:
According to people familiar with the matter, Nvidia is in in-depth negotiations to acquire artificial intelligence startup Hugging Face, and the total transaction value may be approximately US$14 billion. An agreement for Nvidia to acquire Hugging Face for $12.9 billion could be reached as early as this week, a person familiar with the matter said.
People familiar with the matter also said that the transaction may include a $1 billion retention package for Hugging Face employees. People familiar with the matter requested anonymity because the situation has not been made public.
A final agreement has not yet been reached and the timeline and details could still change, people familiar with the matter said. Representatives for Nvidia and Hugging Face declined to comment.
Nvidia is already one of the backers of Hugging Face, and other investors include Alphabet’s Google, Amazon, Intel and Salesforce Inc. wait.
Hugging Face was founded in 2016 and operates an artificial intelligence model sharing platform for free use. The startup was valued at $4.5 billion in a funding round three years ago. Previously, Business Insider reported on Nvidia’s negotiations with the company.
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