NVIDIA Corporation (NVDA.US) formally agreed to acquire open-source AI platform Hugging Face for USD12.9 billion, highlighting the chipmaker's further expansion from hardware operations into the upper layer of the AI stack.

The market had already expected the transaction, according to a report by The Information last week. NVIDIA CEO Jensen Huang said in a blog post on Thursday that Hugging Face will continue to serve as an open platform for the entire AI ecosystem. The companies will jointly expand Hugging Face's platform, strengthen its infrastructure, and broaden the use of AI among developers and institutions globally.

The acquisition marks NVIDIA's second-largest acquisition deal in history, second only to its USD20 billion acquisition of chipmaker Groq assets in December last year.
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