It's official: Nvidia is buying Hugging Face for $13 billion

Nvidia has confirmed that it’s buying Hugging Face for almost $13 billion.

Nvidia CEO Jensen Huang wrote in a Thursday blog post that Nvidia had agreed to acquire Hugging Face for $12,930,300,000, confirming Business Insider’s previous report that the two were in talks for a deal.

Hugging Face, a platform for sharing and building with open-source AI models, will benefit from more compute and support from Nvidia, Hugging Face CEO Clem Delangue said in an X post. “Together, we will scale Hugging Face’s platform, strengthen its infrastructure and expand access to AI for developers and institutions worldwide,” Huang wrote in the blog post.

The companies said Hugging Face would remain an open platform and compute-agnostic.

Hugging Face had been fielding M&A interest for a deal that could value it at $13 billion or more, Business Insider reported in August.

The deal includes a $11.9 billion purchase price payable to Hugging Face stockholders and an equity retention plan of up to about $1.0 billion for Hugging Face employees joining Nvidia, according to a filing with the Securities and Exchange Commission.

Speaking on CNBC on Thursday, Delangue called the Hugging Face incident a “turning point” for open source.