Nvidia confirms Hugging Face acquisition agreement; closing remains subject to approvals

An acquisition initially described in August reports is now supported by a company announcement and a regulatory filing. Nvidia said on September 3 that it had agreed to acquire Hugging Face. Its filing states that the definitive agreement was entered into on September 2. The agreement is announced, but the available disclosures do not establish that the acquisition has closed.

The filing describes approximately $11.9 billion payable to Hugging Face stockholders, subject to adjustments, together with an equity-based retention programme of up to approximately $1 billion for employees joining Nvidia. The company announcement gives an overall figure of $12,930,300,000. The retention component should not be confused with an unconditional cash payment to shareholders.

Nvidia expects the transaction to close in the first half of 2027, subject to customary conditions, including required regulatory approvals. That is the company's stated timetable, not a completed regulatory decision or guaranteed closing date.

The company says Hugging Face will remain an open platform supporting other hardware suppliers, model builders and cloud providers. These are commitments about the proposed acquisition and future operation of the service, rather than independently verified outcomes after a completed takeover.

This updates earlier coverage that treated the transaction as reported but unconfirmed. The later on-record disclosures establish an acquisition agreement, while completion, approvals and delivery of the platform commitments remain separate questions.