As Nvidia Corp. announced this morning that it has agreed to acquire Hugging Face Inc. for $12.93 billion — one of the largest acquisitions in the company’s history — Chief Executive Jensen Huang promised that the platform will retain its brand, its leadership and, according to both companies, its neutrality. “Hugging Face will remain an open platform for the entire AI ecosystem,” Huang said. “Nvidia compute will not be required to build on or deploy through Hugging Face.”
Nvidia Corp. delivered another mind-boggling quarter Wednesday. Total revenue reached $96 billion, up more than 100% year over year, with data center revenue at $89 billion and a third-quarter guide of $108 billion. More striking than the quarterly numbers was the guidance Chief Financial Officer Colette Kress dropped midway through the call: Fiscal 2028 revenue should grow roughly 70% — and that is a supply-constrained figure. Customer forecasts, she said, “point to our growth doubling next year.”
It has been about a year since OpenAI LP launched ChatGPT. That thrust generative artificial intelligence into the spotlight, creating more hype around a technology than anything I can remember. The intense focus on generative AI has made many information technology and business leaders I have talked to ask how generative AI can transform their business.