NVIDIA Posts Record Revenue Amid Export Curbs, Acquires Hugging Face for $12.9B
NVIDIA Corporation (NASDAQ:NVDA) has posted record revenue of $86 billion and provided massive growth guidance, despite facing U.S. export curbs on its AI chips.
The company's revenue jumped by 106% year-over-year, with management forecasting a 77% increase in revenue for the next fiscal year, which translates to around 70% for calendar 2027.
NVIDIA has also made significant deals, including a $12.9 billion acquisition of Hugging Face, a company that reports having over 18 million developers, 3 million models, and 500,000 datasets.
The deal still requires regulatory approval but is expected to close in the first half of 2027. NVIDIA will also supply GPUs for Nscale's Barstow data center from the second half of 2027, with an initial contract worth $3.5 billion and potential revenue exceeding $6 billion.
The company has also partnered with major banks to mobilize over $500 billion in third-party capital to fund AI infrastructure investments.