That doesn't make much sense to me. Companies don't just buy companies for absurd multiples out of the niceness of their heart.

In the case of GitHub, it was likely for data reasons + wanting to own where developers do work (VScode + Github).

In the case of HuggingFace, honestly not sure as I'm not familiar enough with their business. But I can assure you that Nvidia didn't buy them for 13 billion cause HuggingFace were desperate. When you're desperate, you sell for less not more.