Nvidia agrees to buy Hugging Face for $12.9 billion, The Information reports

​Nvidia has agreed ‌to buy ​AI platform Hugging Face for $12.9 billion, The Information reported on Wednesday, ‌citing a person with knowledge of the deal.

The chipmaker and New York-based Hugging Face, which hosts open-source large ‌language models and datasets, did not immediately respond ‌to Reuters requests for comment outside regular business hours. Nvidia was among the backers, alongside Salesforce and Alphabet's Google, that backed ⁠Hugging ​Face in ⁠a $235 million funding round in 2023 that valued the ⁠company at $4.5 billion.

The Financial Times reported in January ​that Hugging Face last year rejected a $500 million ⁠investment offer from Nvidia that would have valued it at $7 ⁠billion. Nvidia ​on Wednesday forecast a 70% jump in revenue next fiscal year, underscoring unabated demand for ⁠AI computing. Nvidia also said it has $18 billion committed ⁠to equity investments ⁠for the rest of 2027 fiscal year.