Nvidia reportedly agreed to pay $12.9 billion for Hugging Face, a company doing roughly $150 million a year. Host Emily Laird takes apart the math and explains why the price only makes sense if you stop thinking about subscriptions and start thinking about who controls the moment a developer picks a model. The real asset is habit: millions of small decisions about where to find, tune, and run open models, plus the compute bill that follows. Also on the table: what happens to Hugging Face's neutrality when the largest chip vendor on the planet owns the front door.
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