NVIDIA announced Wednesday that it has agreed to acquire Hugging Face, the online hub where millions of developers share and download open-source AI models, for $12.93 billion. The deal would put one of the biggest AI chipmakers in control of the most used platform for distributing AI software.
Why the deal matters
Hugging Face has become the default starting point for teams that build with open models. Developers use it to discover, test and deploy models for chat, coding, image generation and more. NVIDIA already supplies a large share of the computing power those models run on. Owning the hub gives NVIDIA a direct connection to the developers who choose the chips and tools behind their AI projects.
In a blog post, NVIDIA chief executive Jensen Huang said the two groups plan to scale the platform, strengthen its infrastructure and expand access to AI for developers and institutions worldwide.
The price tag
The information reported that Hugging Face was generating about $150 million in annualized revenue before the announcement, which would put the $12.93 billion price at roughly 86 times revenue. The deal remains subject to regulatory approval, and NVIDIA has not disclosed a closing timeline. Regulators in the United States and Europe have been reviewing large AI deals more closely in recent years.
What happens next
Hugging Face, led by co-founder and chief executive Clément Delangue, is expected to keep operating as a platform while it is folded into NVIDIA's software business. The acquisition follows a wave of consolidation in AI, as chipmakers, cloud providers and model labs race to control the tools developers use every day.
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