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09/04/2026

Nvidia Acquires Hugging Face for $12.93B in Major AI Software Push

What happened: Nvidia announced it will acquire Hugging Face, a leading open-source AI platform, for $12.

Nvidia Acquires Hugging Face for $12.93B in Major AI Software Push

What happened: Nvidia announced it will acquire Hugging Face, a leading open-source AI platform, for $12.93 billion—$11.9 billion to shareholders and up to $1 billion in equity retention for employees. The deal, expected to close in the first half of 2027, will bring Hugging Face's 3 million AI models, 1 million applications, and 500,000 datasets (used by over 18 million developers) under Nvidia's umbrella. Hugging Face CEO Clément Delangue emphasized that the platform will remain open and not require exclusive use of Nvidia hardware or cloud services.

Why it matters: This marks Nvidia's second-largest acquisition and signals a deeper push into AI software infrastructure, aiming to reach 100 million AI builders. The move consolidates Nvidia's position as a dominant force in both AI hardware and software, though regulatory scrutiny is likely given its market power. While the crypto angle is limited, the deal could have downstream effects on AI-powered blockchain projects and the broader Web3 AI ecosystem.

Source: TechCrunch