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<\/a> Nvidia announced the Hugging Face acquisition Thursday. Key Facts <\/p>\nHuang’s estimated net worth rose 1.1% to the $199 billion mark, according to Forbes’ Real-Time Billionaires list. <\/p>\n
Huang’s wealth is linked to his roughly 3% stake in Nvidia, which agreed to acquire Hugging Face for $12.9 billion<\/a>. <\/p>\n The jump brought Huang to the No. 8 spot on the real-time list, just behind Oracle co-founder Larry Ellison ($201.2 billion). <\/p>\n Nvidia shares traded up a little over 1.5% on Friday, continuing a string of positive performances in the last five days of trading that have raised its stock 6.3%. <\/p>\n Big Number <\/p>\n 24%. That is how much Nvidia’s stock has risen since the start of the year, reaching around $231 per share after sitting around $188 per share in January. <\/p>\n Key Background <\/p>\n Nvidia expects the Hugging Face deal to close in 2027 and has committed to keeping the platform open for developers and models. Hugging Face CEO Cl\u00e9ment Delangue told CNBC<\/a> the acquisition talks began this summer, saying open-source AI “needed more resources, more scale, more visibility.” He also attributed the recent cyber attack against Hugging Face on engineering mistakes, revealing his company used a Nvidia version of a Chinese open model to resolve it. He said the breach proved Hugging Face needed to “double down” on the growth of open-source AI. Hugging Face was valued at $4.5 billion after a private funding round in 2023 that raised money from backers including Nvidia and Google. <\/p>\n Further Reading <\/p>\n Nvidia Is Acquiring Hugging Face For Almost $13 Billion<\/a> (Forbes) <\/p>\n