Nvidia agrees to buy Hugging Face for $16.4 billion: Report
Nvidia was among those that backed Hugging Face in a US$235 million funding round in 2023.
Nvidia has reached an agreement to acquire AI platform Hugging Face for approximately US$12.9 billion, according to a report by The Information on August 26. The deal involves Nvidia, a leading chipmaker, and Hugging Face, a New York-based company that hosts open-source large language models and datasets. Both companies have not yet commented on the reported transaction.
Nvidia was one of several investors, including Salesforce and Alphabet's Google, that provided funding to Hugging Face in a US$235 million round in 2023, which valued the company at US$4.5 billion. In January, The Financial Times revealed that Hugging Face had turned down a US$500 million investment proposal from Nvidia in 2025, valuing the company at US$7 billion.
Nvidia recently projected a 70% increase in revenue for the upcoming fiscal year, reflecting the ongoing demand for AI computing solutions. Additionally, Nvidia has committed US$18 billion to equity investments throughout the remainder of the 2027 fiscal year.
Written by urgent.news from Straits Times Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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