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OpenAI's early $100 million investment offer sparked a bidding war for Hugging Face before Nvidia's $13 billion acquisition
Before Nvidia agreed to acquire open-source platform Hugging Face for approximately $13 billion this month, OpenAI had attempted to invest $100 million in the startup. OpenAI's overture, which included a proposal for Hugging Face to serve as a distribution channel for OpenAI's custom Jalapeño chips, followed a high-profile hack of Hugging Face in July. Advanced Micro Devices (AMD) and Salesforce were also reportedly in early discussions to acquire Hugging Face before Nvidia announced the deal on September 3. Nvidia had previously backed Hugging Face in 2023 at a $4.5 billion valuation.
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