Nvidia agrees to buy Hugging Face for $12.93 billion

Nvidia has agreed to acquire artificial-intelligence developer platform Hugging Face for $12,930,300,000 under a definitive agreement signed September 2, the companies said Thursday. The transaction confirms a deal that had been reported as under discussion last week and would give the world's most valuable chipmaker control of a major hub for open AI models, datasets and applications.Nvidia — Nvidia to acquire Hugging Face · U.S. Securities and Exchange Commission — Nvidia Form 8-K · Reuters — Nvidia to buy Hugging Face for nearly $13 billion · Associated Press — Nvidia buys Hugging Face in $13 billion deal

A filing with the U.S. Securities and Exchange Commission says Nvidia expects to deliver about $11.9 billion in cash and stock to Hugging Face shareholders at closing and issue up to $1 billion in equity-based retention awards to employees. The final mix of cash and shares will depend on Nvidia's average stock price before completion, according to the filing.U.S. Securities and Exchange Commission — Nvidia Form 8-K · Reuters — Nvidia to buy Hugging Face for nearly $13 billion

The companies target a closing in the first half of 2027, but the purchase still requires regulatory clearances and other customary conditions. Nvidia said the acquisition is not expected to materially affect its financial results in the near term, and the SEC filing gives either company certain termination rights if the deal does not close by September 2, 2027, subject to extension in specified circumstances.U.S. Securities and Exchange Commission — Nvidia Form 8-K · Reuters — Nvidia to buy Hugging Face for nearly $13 billion · Associated Press — Nvidia buys Hugging Face in $13 billion deal

Hugging Face hosts more than 3 million models, 500,000 datasets and 1 million applications for a community of more than 18 million users, according to Nvidia. The platform is used by more than 200,000 organizations, making it important infrastructure for developers who build with models from many companies and run them across different cloud services and hardware.Nvidia — Nvidia to acquire Hugging Face · Reuters — Nvidia to buy Hugging Face for nearly $13 billion · Associated Press — Nvidia buys Hugging Face in $13 billion deal

Nvidia and Hugging Face say the platform will remain open, multicloud and multi-accelerator and that using Nvidia hardware will not be a requirement. That commitment will be closely watched because the acquisition would move Nvidia deeper into the distribution layer for open models while regulators are already scrutinizing the chipmaker's influence across the AI market. Until approvals are secured and the transaction closes, Hugging Face remains an independent company.Nvidia — Nvidia to acquire Hugging Face · Reuters — Nvidia to buy Hugging Face for nearly $13 billion · Associated Press — Nvidia buys Hugging Face in $13 billion deal