Today’s Top Stories: Nvidia Buys Hugging Face, Snowflake Soars and Broadcom Eyes $230 Billion in AI Chip Revenue

TLDR

• Nvidia is buying AI platform Hugging Face for nearly $13 billion
• Snowflake shares jumped over 20% after strong earnings and raised forecasts
• Broadcom predicts its AI chip business could hit $230 billion by 2028
• Hewlett Packard Enterprise raised its revenue forecast after a 33.7% sales surge
• Oil prices hit six-week highs as U.S.-Iran tensions escalate

Nvidia Buys Hugging Face for $12.93 Billion

Nvidia has agreed to buy Hugging Face, one of the most widely used platforms for building and sharing open-source AI models, for approximately $12.93 billion.

The deal is one of the largest acquisitions in Nvidia’s history. It shows the company moving further into the AI software and tools space, not just selling chips.

Hugging Face is used by developers around the world to access AI models, datasets and tools. The platform is expected to stay open after the deal closes.

The acquisition comes as some of Nvidia’s biggest customers are building their own custom chips. Buying Hugging Face gives Nvidia a deeper role in how developers build AI, regardless of what hardware they use.

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