NVIDIA agreed to acquire Hugging Face for $12,930,300,000, reversing earlier coverage that described the transaction as completed. Jensen Huang announced the agreement on September 3, while an SEC filing says the definitive agreement was entered into on September 2. The deal includes approximately $11.9 billion for Hugging Face stockholders and up to approximately $1 billion in equity-based employee retention, and is expected to close in the first half of 2027 subject to customary closing conditions and regulatory approvals. The acquisition would strengthen NVIDIA’s position across open-source and open-weight AI while Hugging Face remains an open platform supporting different models, frameworks, cloud providers, inference services, computing platforms, model builders and hardware accelerators. More than 18 million developers, researchers and creators use Hugging Face, which hosts more than 3 million models, 500,000 datasets and 1 million applications and is used by more than 200,000 companies. NVIDIA shares rose as much as 2% before closing at $230.36, up 0.84%, while investors also linked the transaction to broader AI infrastructure and memory demand.