Business Insider first reported, in a piece bylined by Katie Roof, that Hugging Face has been working with a bank to gauge acquisition interest in a potential deal that would value the company at $13 billion or more. That story stated this was exploratory: no deal had been reached, and the report described a bank being used to gauge bidder interest rather than confirming any specific buyer or signed agreement.
Update, days later: Business Insider reported that the specific company in talks is Nvidia. Bloomberg's own reporting states: "The two parties have had acquisition conversations in recent weeks about a deal that would value Hugging Face at more than $13 billion, according to a person familiar with the matter. The companies have not yet reached a deal, and the talks could still fall apart, the person said." Bloomberg credits Business Insider as first to report Hugging Face was fielding takeover interest, and states that Nvidia and Hugging Face both declined to comment. Separately, The Information and Reuters have reported that Nvidia has agreed to buy Hugging Face for $12.9 billion. Bloomberg's directly-quoted account and the "agreed" reports from other outlets do not match.
The number against its own history
Hugging Face's last known valuation was $4.5 billion, set in a 2023 Series D round backed by Google, Salesforce, Amazon, IBM, and Nvidia among others. A deal at the reported $13B-plus level would be nearly a 3x jump in under three years. Hugging Face turned down a $500 million investment offer from Nvidia in late 2025 that would have valued the company at $7 billion, reportedly because the company didn't want a single dominant investor.
What isn't confirmed yet
Per Bloomberg's directly-quoted reporting, no deal has been reached and the talks could still fall apart. Both companies declined to comment. The $12.9–13B range is the figure currently being reported, not a finalized, closing price.
Hugging Face co-founder and Chief Science Officer Thomas Wolf appeared on Bloomberg TV the same day, in an interview that also covered Microduck, Hugging Face's new $399 open-source robot. Wolf declined to comment specifically on the Nvidia reports, while saying Hugging Face "always attracts" buyer and investor interest. Neither Nvidia nor Hugging Face has confirmed or denied a deal. According to accounts of the same interview, Wolf also indicated any deal would not close this summer, suggesting fall at the earliest.
What to expect next
- A joint announcement from Nvidia and Hugging Face, which hasn't happened yet.
- Whether Hugging Face's stated 2025 reasoning for declining Nvidia's investment is addressed by either company.