Breaking

NVIDIA Agrees to Acquire Hugging Face for $12.93 Billion, Pledging Hub Will Stay Open

September 3, 2026 at 19:22 EDT

Funding & M&A
Open Source
Foundation Models

NVIDIA has agreed to acquire Hugging Face, the main public hub for open AI models, datasets, and applications, in a deal valued at $12.93 billion, while pledging that developers will still be able to use rival chips, clouds, and model builders on the platform. Closing is targeted for the first half of 2027, pending regulatory approvals.

September 3, 2026 · NVIDIA

NVIDIA buys Hugging Face for $12.93 billion

The chipmaker has agreed to acquire the main public hub for open AI models, while pledging the platform will stay usable on rival chips and clouds. Close is targeted for the first half of 2027.

$12.93B

Announced deal value

~$11.9B

To Hugging Face stockholders

$1.0B

Up to this in retention equity

H1 2027

Expected close, pending review

Price versus last disclosed valuation

Each block is about $1 billion. The 2023 Series D valued Hugging Face at $4.5 billion; NVIDIA is paying $12.93 billion.

$4.5B

2023 Series D valuation

$12.93B

2026 NVIDIA deal

Nearly 3× the last private-market valuation, for a hub with about $150 million in reported annualized revenue.

What NVIDIA pledged

Hub stays open to the full AI ecosystem
NVIDIA compute not required to build or deploy
Founders and team said they are staying

What still has to hold

Competition review before an H1 2027 close
Neutrality in defaults, ranking, and accelerators
Risk of new limits on open models, including China-origin weights

Path to close

Definitive agreement

Signed September 2, 2026

→

Regulatory review

Customary approvals required

→

Expected close

First half of 2027

Continue reading

The rest of this article is for AI News Blitz readers. Choose an option below to keep reading.