NVIDIA acquired Hugging Face for $12.93 billion—announced in person by Jensen Huang.

Founded in 2016, this open-source community—dubbed the GitHub of the AI world—has 18 million developers and 200,000 enterprises running models on it every day. This acquisition targets the most critical distribution channel for open-source models.

The deal sets a record for NVIDIA’s largest acquisition ever, nearly doubling the $6.9 billion price paid to acquire Mellanox in 2020. Huang said the platform will remain open, without forcing customers to tie NVIDIA’s compute, but whether the market believes that will depend on regulators and subsequent actions.

When big tech companies抢 open-source ecosystems, what they want has always been territory, with code only serving as the exterior. No matter how well the chips sell, only by being able to control where developers spend their day can it be a real moat.

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