Nvidia agrees to buy Hugging Face for about $11.9 billion

NVIDIA Corporation entered a definitive agreement on Sep 2, 2026 to acquire Hugging Face, Inc., an open-model platform. The purchase price payable to Hugging Face stockholders is approximately $11.9 billion, subject to adjustments, plus an equity-based retention program of up to approximately $1.0 billion for Hugging Face employees joining NVIDIA, according to NVIDIA’s Form 8-K.

The deal is expected to close in the first half of 2027, subject to customary conditions including required regulatory approvals. The 8-K does not name jurisdictions or attach the merger agreement. Cash versus stock mix is not broken out.

In a Sep 3 blog post, NVIDIA CEO Jensen Huang put the combined figure at $12,930,300,000. He said more than 18 million developers use the platform to share more than 3 million models, 500,000 datasets, and 1 million applications, with more than 200,000 companies on it.

Huang said Hugging Face will remain open. Developers keep choosing models, frameworks, clouds, inference providers, and computing platforms. “NVIDIA compute will not be required.” The 8-K adds that Hugging Face would continue to support other silicon vendors under that commitment.

Stake: NVIDIA shareholders; Hugging Face stockholders and retention-covered employees; open-model builders who need a multi-accelerator hub; rival silicon and cloud vendors if neutrality holds.