Nvidia acquires AI open-source platform Hugging Face for nearly $12.9 billion, its second-largest deal on record
Nvidia announced on September 2 that it has signed a definitive agreement to acquire AI open-source model platform Hugging Face for approximately $12.9 billion, with about $11.9 billion payable to Hugging Face shareholders and up to roughly $1 billion set aside as an equity retention program for employees; the deal was confirmed by multiple outlets and Nvidia's own announcement on September 3. Hugging Face's platform currently hosts 3 million models, 1 million applications, and 500,000 datasets, serving more than 18 million developers worldwide. It's Nvidia's second-largest acquisition on record, behind only its $20 billion purchase of chip startup Groq's assets last December. The deal is expected to close in the first half of 2027, pending required regulatory approvals.
Verification note: Summarized from TechCrunch and CNBC reporting and Nvidia's official announcement and SEC filing. Refer to Nvidia's official statements for final deal terms and approval timeline.