Nvidia is in advanced talks to acquire Hugging Face, a leading open-source AI model platform, for approximately $12.9 billion, The Information reported on Thursday, citing a person familiar with the matter. The deal, if completed, would rank among the largest acquisitions in Nvidia's history under CEO Jensen Huang.
Neither Nvidia nor Hugging Face responded to requests for comment. The proposed takeover would give Nvidia ownership of a critical hub for AI developers, at a time when rivals such as OpenAI and Anthropic are developing proprietary chips to reduce reliance on Nvidia's hardware.
Hugging Face generated $150 million in annual revenue, according to The Information. Nvidia was already an investor, leading a funding round in 2023 that valued the platform at $4.5 billion. The acquisition would further integrate Hugging Face's developer ecosystem with Nvidia's AI infrastructure stack.
Nvidia's financial performance has surged amid the AI boom. On Wednesday, the company reported quarterly revenue of $96.22 billion, more than doubling year-over-year. For the current quarter, Nvidia forecast revenue of about $108 billion. The firm is also expanding its partnership with Amazon and mobilizing over $500 billion with financial investors to build additional data centers.
