GoKawiil
Tech News
Nvidia has confirmed it will acquire Hugging Face, the New York startup behind the leading platform for open-source AI models, in a deal valued at $12.9 billion. CEO Jensen Huang said the price reflected competition from other bidders, making it Nvidia's second-largest acquisition after its $20 billion purchase of Groq's assets. Hugging Face hosts millions of models and datasets used by over 200,000 companies and 18 million developers.
Marvell Technology's shares slid 8% in premarket trading even after the chipmaker beat second-quarter revenue expectations, posting $2.7 billion, up 37% year-over-year and $39 million above its own guidance. The company raised its fiscal 2028 revenue outlook to roughly $18 billion, about 50% growth, from a prior estimate of $16.5 billion, but offered scant detail on how it plans to get there.
Hugging Face, the widely used repository for open-source AI models and developer tools, is reportedly the target of a potential investment or acquisition move by Nvidia. The platform is a central hub where developers share, download and test AI models, giving it outsized influence over the open model ecosystem despite limited public name recognition.
According to a report from The Information, Nvidia has reached a deal to purchase Hugging Face, the popular open-source AI collaboration platform, for $12.9 billion. The talks reportedly began after another suitor expressed acquisition interest in Hugging Face, and Business Insider had separately reported the startup was working with a bank to gauge buyer interest. Neither Nvidia nor Hugging Face has confirmed the deal, and CNBC said it could not independently verify the report.