Nvidia to buy Hugging Face for $12.93 billion

Nvidia (NVDA) has reached an agreement to acquire Hugging Face, valuing the developer platform at $12.93 billion. The transaction was announced by Chief Executive Jensen Huang on September 3, 2026, following the signing of the agreement on or about September 2, 2026. The deal brings a major open‑model ecosystem used by developers into Nvidia’s expanding artificial intelligence portfolio. It marks one of Nvidia’s largest moves to deepen its role in the broader AI software and tools landscape.

Hugging Face has become a central hub for AI developers working with a wide range of models and frameworks. By agreeing to acquire the platform, Nvidia is positioning itself more directly within the workflow of developers who build, share and deploy AI models. The transaction is structured to close after customary conditions are met, including required regulatory approvals, which still stand between announcement and completion.

Nvidia emphasized that Hugging Face will remain an open, compute‑agnostic platform after the acquisition. Developers using Hugging Face will continue to be able to choose their preferred models, frameworks, cloud providers, inference providers and computing platforms. This commitment seeks to preserve the platform’s flexibility for its existing community.

The company has also indicated plans to invest engineering resources in Hugging Face. These efforts are aimed at improving areas such as reliability, safety, model evaluation, inference and deployment on the platform. The approach suggests Nvidia intends to enhance the platform’s technical capabilities while maintaining its open nature for developers.

In parallel with the acquisition news, Nvidia provided an ambitious outlook for its future growth. Chief Financial Officer Colette Kress projected roughly 70% revenue growth for fiscal 2028. This internal projection stands substantially above analyst expectations cited near 44%, highlighting management’s confidence in the company’s trajectory.

The strong growth outlook is framed against Nvidia’s ongoing expansion in AI infrastructure and software. The acquisition of Hugging Face aligns with this strategy by adding a widely used developer platform to Nvidia’s portfolio. Together, the platform purchase and the high‑growth forecast underscore how Nvidia is tying long‑term financial expectations to continued momentum in artificial intelligence.

The Hugging Face transaction remains subject to customary closing conditions and regulatory approvals. Completion will depend on the outcome of these reviews, which are standard for large technology deals. Until the process is finished, Hugging Face will continue to operate as an independent platform.

If the deal closes as agreed, Nvidia will combine its AI computing capabilities with Hugging Face’s developer ecosystem while keeping the platform open and compute‑agnostic. This structure is designed to let developers retain choice over their tools and infrastructure, even as Nvidia integrates the platform into its broader AI strategy. The combination of a major platform acquisition and an aggressive revenue growth target highlights the central role Nvidia expects AI to play in its future results.