🟡 Nvidia is not buying a website. It is copying the most durable business model in technology: own the marketplace, sell the machine underneath it, and let everyone else supply the goods. Nine months ago it paid about $20 billion for Groq's assets — chips built to serve AI models cheaply rather than train them. On Thursday it paid $12.93 billion for Hugging Face, the place where the world's open models are found and downloaded. Those are not two deals. They are one: the engine that runs small models, and the shop that sells them. What Nvidia has bet on is that the AI market splits in two — a handful of enormous closed models at the frontier, and a vast, fragmenting tail of small open ones underneath — and that the tail is where the volume goes.
C — free account
The free C account unlocks the full Daily Pulse — every section of this read.
One tap with Google or one email — no password, no card. You are
signed in until you sign out, on this browser, from then on.
Already joined on this browser? The full edition shows automatically —
if it doesn't, sign in again here. Looking for the archive, portfolios and
realtime? That is C+.
One more block on our desk — tomorrow's levels and what we're watching into the next session. Join the Look — it’s free.
The signals behind thisEach line links to the tool it comes from
