Nvidia announced a deal to buy AI developer platform Hugging Face for $12.93 billion in the company's largest acquisition. Nvidia stock rose.

Nvidia will buy popular developer platform Hugging Face for US$12.93 billion, betting that support for open AI models will drive future demand even as its biggest customers…

It was already rumored, but now we know.

Nvidia will buy Hugging Face for $12.93 billion, seeking to strengthen its open AI presence as customers develop their own chips.