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According to The Information, Nvidia has agreed to acquire AI model-sharing platform Hugging Face for about $12.9 billion, though Business Insider says talks are still ongoing without a signed deal. Neither company has confirmed the reports publicly. The price would make it Nvidia's largest acquisition ever, well above the $7 billion it paid for Mellanox in 2020.
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.
European stock indexes opened with a mixed performance, showing no unified direction across the region. However, artificial intelligence-related stocks stood out with notable gains, buoyed by Nvidia's latest earnings report.
The Information reports, citing a source familiar with the matter, that Nvidia has agreed to purchase Hugging Face, the widely used open-source AI model hub, in a deal valuing the company above $13 billion. Business Insider says the agreement has not yet been finalized and could still fall apart, and neither Nvidia nor Hugging Face has commented on the reports.
Nvidia has been negotiating to buy Hugging Face, the open-source AI model-sharing platform, in a deal that would value the startup at more than $13 billion, according to a person familiar with the matter. No agreement has been reached and talks could still collapse. Microsoft had also explored a deal with Hugging Face but those discussions are no longer active.
Nvidia CEO Jensen Huang defended the company's expanding financial backing of AI startups and data center projects, arguing critics misunderstand the unprecedented capital needs of building and deploying AI. He spoke on CNBC after Nvidia posted stronger-than-expected quarterly earnings, noting the firm has invested in model makers like OpenAI and Anthropic and backed massive compute projects, including a $105 billion Ohio campus and a $500 billion Wall Street financing partnership.
Amazon and Nvidia expanded their partnership, with Amazon agreeing to add 2 million more Nvidia GPUs—including Blackwell Ultra, Rubin, and Rubin Ultra chips—to AWS data centers by 2027-2028. This comes just five months after a prior deal for over 1 million GPUs, with Nvidia citing demand that 'exceeded expectations.' The deal also extends to broader integration of Nvidia's networking hardware, models, CPUs, and robotics platforms into AWS infrastructure.
Nvidia reported second-quarter revenue of $96bn, over twice what it earned a year earlier, driven largely by its data centre business which brought in $89bn, up 117% year-on-year. The company forecasts $108bn in revenue next quarter, and shares rose about 4% in after-hours trading following results that beat Wall Street estimates.
Nvidia reported fiscal second-quarter net income of $59.69 billion, or $2.46 per share, for the May-July period, exceeding Wall Street forecasts. The results were driven by continued strong sales of the company's high-end AI chips, which remain central to the ongoing buildout of artificial intelligence infrastructure.
Nvidia posted quarterly sales of $96.2 billion, topping analyst estimates by roughly 4%, marking a new high for the chipmaker. Despite the strong results, shares dipped slightly as broader market anxiety over the sustainability of AI-related spending overshadowed the earnings beat.
Nvidia reported record quarterly revenue of $96.2 billion, up more than $10 billion from the prior quarter, driven by data center revenue that more than doubled year-over-year to $89 billion. Profits also more than doubled to $59.7 billion, and the company projects revenue will climb to $108 billion in the coming quarter.
Perplexity and Nvidia have released Portable Computer, a locally-run version of Perplexity's Computer AI platform that performs agentic workloads directly on a user's PC or workstation instead of relying on cloud servers. The app mirrors the original Computer interface, supports Qwen 3.8 and PPLX local models (both scaling to 27 billion parameters), and will soon add Nvidia's Nemotron 3.5 Lightning model, while asking users for permission before sending any data to cloud-based frontier models for harder tasks.