Nvidia agrees to buy Hugging Face for $12.9 billion, The Information reports
NVDA•Background on the companies and prior funding
Nvidia was among the backers, alongside Salesforce CRM.N and Alphabet's Google GOOGL.O, that backed Hugging Face in a $235 million funding round in 2023 that valued the company at $4.5 billion.
The Financial Times reported in January that Hugging Face last year rejected a $500 million investment offer from Nvidia that would have valued it at $7 billion.
Nvidia on Wednesday forecast a 70% jump in revenue next fiscal year, underscoring unabated demand for AI computing. Nvidia also said it has $18 billion committed to equity investments for the rest of fiscal 2027.
Nvidia agrees to buy Hugging Face, The Information reports
Aug. 26 (Reuters) - Nvidia NVDA.O has agreed to buy AI platform Hugging Face for $12.9 billion, The Information reported on Wednesday, citing a person with knowledge of the deal.
The chipmaker and New York-based Hugging Face, which hosts open-source large language models and datasets, did not immediately respond to Reuters requests for comment outside regular business hours.
