Nvidia Snaps Up Hugging Face in $13 Billion AI Deal Amid Tech Shakeups

Nvidia is set to acquire Hugging Face, an open-source AI platform used by more than 18 million developers, researchers, and creators. The deal, worth $12.93 billion, will strengthen Nvidia's foothold in the AI ecosystem and provide access to key AI developers.

Hugging Face has over three million models, 500,000 datasets, and one million applications shared on its platform, used by more than 200,000 companies worldwide. The acquisition is subject to regulatory approvals but could close in 2027.

Meanwhile, Nvidia's biggest competitor Broadcom reported strong earnings, with adjusted EPS of $3.32 and revenue of $29.59 billion. However, shares fell after its fiscal fourth-quarter revenue guidance hit $34.8 billion, slightly below expectations.