Nvidia in Talks to Buy Hugging Face at $13B Valuation

Nvidia is in serious talks to acquire Hugging Face in a deal that would value the open-model hub at more than $13 billion, Reuters reported on Wednesday, citing Business Insider. The talks "had not yet produced a signed agreement and could still fall apart," Business Insider said.

A separate account from The Information put the number at $12.9 billion and described the transaction as agreed. Neither Nvidia nor Hugging Face immediately responded to requests for comment.

The figure is a sharp mark-up on the company's own history. Hugging Face last raised money in 2023 at a $4.5 billion valuation, and turned down a $500 million investment from Nvidia last year that would have valued it at $7 billion. Five of the experts on our Who's Who tracker shared the story.

If it closes, the transaction would put one of the most widely used platforms for sharing and working with open-source AI models under the ownership of the dominant GPU vendor, and mark Nvidia's return to a cloud-adjacent business it reportedly scaled back roughly a year ago.