Powered by Nvidia DGX Cloud, the new service will be available in the coming months. Getty Images
Powered by Nvidia DGX Cloud, the new service will be available in the coming months. Getty Images
Powered by Nvidia DGX Cloud, the new service will be available in the coming months. Getty Images
Powered by Nvidia DGX Cloud, the new service will be available in the coming months. Getty Images

Nvidia joins forces with Hugging Face to connect developers with generative AI tools


Alkesh Sharma
  • English
  • Arabic

US-based chip company Nvidia has joined forces with Hugging Face – a collaboration platform for the global machine learning community – to connect developers with generative artificial intelligence tools.

The partnership aims to bring together “millions of developers” who are building large language models and other advanced AI applications.

The initiative will connect the “world’s largest AI community with Nvidia’s AI computing platform in the world’s leading clouds”, said Jensen Huang, founder and chief executive of Nvidia.

“Together, Nvidia AI computing is just a click away for the Hugging Face community.”

California-based Nvidia designs and manufacturers AI hardware and software graphics processing units for various industries. GPUs can process various tasks simultaneously, making them useful for machine learning, video editing and gaming applications.

Jensen Huang, founder and chief executive of Nvidia. Reuters
Jensen Huang, founder and chief executive of Nvidia. Reuters

As part of the latest collaboration, Hugging Face will offer a new service to simplify the creation of custom generative AI models for the enterprise.

Powered by Nvidia, the new service, DGX Cloud, will be available in the coming months, the entities said.

The DGX Cloud will allow the Hugging Face community to instantly connect with Nvidia’s AI supercomputing, providing the software and infrastructure needed to train and tune foundation models with unique data sets to build innovative LLM models.

Generative AI is currently disrupting industries across the board. A type of AI system that can generate text, images or other media, it uses neural networks to identify patterns and structures within existing data to generate new and original content.

It could add as much as $4.4 trillion annually to the global economy and will transform productivity across sectors with continued investment in the technology, a recent report by consultancy McKinsey found.

The Hugging Face platform lets developers build, train and deploy AI models using open-source resources. Anyone can share, explore, discover and experiment with open-source machine learning on this platform.

More than 15,000 organisations use the platform, and its community has shared more than 250,000 models and 50,000 data sets.

Open source software is a platform with source code that anyone can check, modify, enhance and redistribute.

“We are still only in the early days of this technology shift,” said Clement Delangue, co-founder and chief executive of Hugging Face.

“Our collaboration will bring Nvidia’s most advanced AI supercomputing to Hugging Face to enable companies to take their AI destiny into their own hands with open source to help the open-source community easily access the software and speed they need to contribute to what’s coming next.”

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.

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Founder/CEO: Othman Al Mandhari

Based: Muscat, Oman

Sector: Additive manufacturing, 3D printing technologies

Size: 15 full-time employees

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Updated: August 09, 2023, 9:13 AM