Announces $11.9 billion acquisition of Hugging Face

NVIDIA Corporation has announced that on September 2, 2026, it entered into a definitive agreement to acquire Hugging Face, Inc. The deal is valued at approximately $11.9 billion, payable to Hugging Face stockholders. Additionally, an equity-based retention program of up to $1.0 billion is planned for Hugging Face employees who join NVIDIA.

Hugging Face operates a platform and community focused on developing, sharing, and deploying open-source models, datasets, and applications. NVIDIA anticipates that this acquisition will provide additional resources to Hugging Face, supporting developers in creating and distributing open models and applications. NVIDIA has publicly committed to maintaining Hugging Face's open platform, allowing users to upload and download models and datasets, and continuing support for other silicon vendors.

The transaction is subject to customary closing conditions, including obtaining necessary regulatory approvals, and is expected to be finalized in the first half of 2027. This acquisition introduces potential risks, as highlighted by NVIDIA, particularly concerning government restrictions on open-source foundation models.

NVIDIA notes that demand for open-source AI models globally supports its products and the Hugging Face platform. However, legislative or regulatory measures could restrict models or datasets available through Hugging Face, necessitate changes to its platform or practices, increase compliance costs, or lead to investigations or enforcement actions. These risks could impact the expected benefits of the acquisition and NVIDIA's financial performance.