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The chipmaker agreed to pay $11.9 billion to Hugging Face stockholders, plus up to $1 billion in retention awards for employees who join Nvidia
Ying Tang/NurPhoto via Getty Images
Nvidia $NVDA agreed to acquire Hugging Face, an open-source AI model platform, for approximately $12.9 billion, the company said Wednesday.
The deal's total value breaks down into an $11.9 billion payment to Hugging Face stockholders, subject to certain adjustments, along with as much as $1 billion in equity-based retention awards for Hugging Face employees who come on board at Nvidia, the company said. The deal is expected to close in the first half of 2027, pending regulatory approvals.
