"NVIDIA BUYS HUGGING FACE FOR $12.9B TO EXPAND AI SOFTWARE DOMINANCE" Nvidia has agreed to acquire Hugging Face for $12.93 billion, expanding its presence beyond AI chips into software and developer tools. Hugging Face serves more than 18 million developers and hosts over 3 million AI models on its platform. Nvidia CEO Jensen Huang said the platform will remain open, allowing developers to use different models, frameworks, cloud providers and hardware. Nvidia will pay around $11.9 billion to investors and allocate up to $1 billion for employee retention. The deal is expected to close in 2027, subject to regulatory approvals. The acquisition follows a recent Hugging Face security breach involving an autonomous AI agent that accessed internal datasets and credentials.
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