4 hrs ago
Nvidia's Hugging Face Deal Makes Three Founders Billionaires
Hugging Face is a company where people share tools and materials for building artificial intelligence.
Nvidia, a major computer-chip company, has agreed to buy it for nearly $13 billion.
The deal makes Hugging Face's three French founders very wealthy.
Their estimated fortunes are about $1.8 billion each.
The founders are Clément Delangue, Julien Chaumond, and Thomas Wolf.
Hugging Face started in Paris in 2016 as a chatbot project for teenagers.
It later became a large platform used by developers, researchers, and companies.
Nvidia says the platform will remain open, and the founders are expected to stay for six years.
Nvidia agreed to buy Hugging Face in a deal valued at $12.93 billion.
Founders Clément Delangue, Julien Chaumond, and Thomas Wolf were each valued at about $1.8 billion.
Hugging Face began in Paris in 2016 and later joined Station F.
The founders developed an open platform for sharing AI models, datasets, and applications.
The deal is expected to close in the first half of 2027, with the founders staying under a six-year agreement.
- Who
- Nvidia, Hugging Face, and founders Clément Delangue, Julien Chaumond, and Thomas Wolf.
- What
- Nvidia agreed to acquire Hugging Face for $12.93 billion, making its three founders billionaires.
- Where
- Hugging Face began in Paris and is now based in Brooklyn, while Nvidia is headquartered in the United States.
- When
- The agreement was announced Thursday and is expected to close in the first half of 2027.
- Why
- Nvidia is seeking to broaden AI adoption and expand its customer base, while Hugging Face is moving into its next phase under Nvidia.
Open Platform Advocates
Nvidia Acquisition Case
Openness and control
Open Platform Advocates
Hugging Face has emphasized open, decentralized AI and allows users to upload and download models and datasets of their choosing.
Nvidia Acquisition Case
Nvidia says Hugging Face will remain an open platform after the acquisition while gaining a new corporate owner.
Strategic direction
Open Platform Advocates
The platform was built around collaborative, open-source AI and has supported projects intended to make machine learning more accessible.
Nvidia Acquisition Case
Nvidia views the acquisition as a way to broaden AI adoption and extend its customer range.
Key facts
- Deal value
- $12.93 billion, described elsewhere as roughly $13 billion
- Estimated founder wealth
- About $1.8 billion each for Clément Delangue, Julien Chaumond, and Thomas Wolf
- Founding
- Hugging Face began in Paris in 2016
- Platform scale
- Nvidia said the platform has more than 18 million users, 3 million models, 500,000 datasets, and 1 million applications
- Business reach
- Nvidia said more than 200,000 companies use Hugging Face
- Expected closing
- The first half of 2027
- Founder retention
- The co-founders are expected to remain under a six-year retention agreement
Quotes
Jensen Huang
Nvidia chief executive officer who announced the acquisition in a blog post
“I am honored that Clem came to me as he considered the next chapter of Hugging Face and believed Nvidia would be a great home for the company.”
livemint.com
“on a mission to democratize good machine learning”
livemint.com
Sources
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