Nvidia has confirmed a $12.93bn acquisition of Hugging Face, valuing the platform at about 86 times revenue. Jensen Huang says it will remain open across models, frameworks, clouds and computing platforms.

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.

The AI chipmaker says it will keep Hugging Face as an open platform

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