Nvidia agrees to acquire Hugging Face for about $11.9 billion

Nvidia entered a definitive agreement on September 2 to acquire Hugging Face for an approximately $11.9 billion purchase price, plus an equity-based employee retention program of up to about $1 billion. The transaction is expected to close in the first half of 2027, subject to customary conditions and regulatory approvals. Nvidia said it intends to keep Hugging Face's platform open under its existing practices, including allowing users to upload and download chosen models and datasets and supporting other silicon vendors.