Nvidia Confirms $12.93bn Acquisition of Open-Source AI Platform Hugging Face

Nvidia chief executive Jensen Huang said the company would aim to scale the platform, strengthen its infrastructure, and broaden access to AI for developers and institutions. In a blog post cited by Tech.eu, Huang said Hugging Face would keep supporting open source and open weight models from across the ecosystem, and continue backing multi-cloud and multi-accelerator development so builders can select the hardware and infrastructure that suits their work.

Huang, described by Tech.eu as a supporter of open-source AI, noted that Nvidia had published more than 500 AI models on Hugging Face. Nvidia had previously backed the company in a $235 million Series D round in 2023 that valued it at $4.5 billion, its last known valuation.

The transaction is expected to be completed in the first half of 2027.

AI Startups Draw Fresh Funding Across US and Europe for Finance, Fashion and Construction

Hyphenate, Artiso and Bedrock Robotics each closed new rounds in October 2026, applying AI agents and automation to finance, fashion design and heavy construction equipment.