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Thu, 03 Sep 2026

Thu, 03 Sep 2026 Nvidia strikes $12.9bn deal to buy AI platform Hugging Face

The deal gives Nvidia control of a leading open-source AI platform and developer community.

* Nvidia agreed to buy AI platform Hugging Face for $12.9bn
* Deal valued at around £9.5bn, one of Nvidia's biggest acquisitions as it expands into software
* Hugging Face has a community of over 18 million developers and hosts over three million AI models
* Platform used by more than 200,000 companies, including Microsoft, Meta and OpenAI
* Nvidia shares ended Thursday trading up 1.8%
* Deal will give Nvidia control of leading open-source platform, alternative to systems offered by OpenAI and Anthropic
* Hugging Face will remain open to developers, users not required to use Nvidia's chips or services
* Nvidia will pay $11.9bn to Hugging Face investors and offer up to $1bn in stock-based incentives to employees who join the company