Nvidia Buys Hugging Face for $12.93 Billion as Analysts Back AI Ecosystem Push
Updated
Updated · Yahoo Finance · Sep 4
Nvidia Buys Hugging Face for $12.93 Billion as Analysts Back AI Ecosystem Push
3 articles · Updated · Yahoo Finance · Sep 4
Summary
$12.93 billion gives Nvidia control of Hugging Face, the platform where developers discover, test and deploy AI models, extending its reach beyond chips into software distribution.
Needham and Raymond James said the deal is strategically valuable because it buys access to a critical AI entry point rather than near-term earnings, with Needham keeping a $300 target.
NVDA rose as much as 1.5% in premarket trading and was on track for a more than two-month high, even as Stocktwits retail sentiment slipped to bearish from neutral.
$11.9 billion will go to Hugging Face shareholders and up to $1 billion to retain employees; Nvidia said the platform will stay open and continue supporting multiple hardware and cloud providers.