Business: Nvidia buys Hugging Face for $12.93 billion.

Nvidia will acquire AI platform Hugging Face for $13 billion, keeping it open. The deal underscores Nvidia's focus on open-source AI, with 18M users and 3M models on the platform. Nvidia reported $59.69B quarterly revenue, highlighting its role in AI. Concerns persist about AI's economic impact and job losses.

SpaceX CEO Elon Musk announced the company will exclusively use Nvidia's AI computing hardware, citing its superior architecture. SpaceX's Q2 capital expenditures were $18.4B, with $15.8B allocated to AI infrastructure. Nvidia shares rose 3.4% following the announcement. SpaceX expects to increase its computing capacity to 2GW by 2026 and potentially 10GW by 2027, all using Nvidia hardware. The company has $28B in noncancelable purchase commitments, mostly for AI infrastructure, with $22.2B matu

AWS and NVIDIA announced plans for AWS to deploy 2 million additional NVIDIA GPUs in 2027-2028, following an earlier plan for 1 million GPUs starting in 2026. Amazon (AMZN) aims to increase cloud capacity, while NVIDIA (NVDA) gains a long-term deployment roadmap. NVIDIA's Q2 revenue rose 106% to $96.2B, with Data Center revenue up 117% to $89B. Both companies face risks related to utilization, competition, and capital efficiency.

Blackstone President Jon Gray stated that AI investments are not a bubble, as demand for computing power already exists but infrastructure supply is insufficient. He cited regulatory constraints and resource shortages as factors limiting growth. Gray acknowledged potential risks but expects AI demand to exceed expectations. Blackstone recently partnered with Nvidia and other firms to raise $500B in capital.

Nvidia (NVDA) agreed to acquire Hugging Face for $12.9B, aiming to expand into AI software. The deal, expected to close in 2027, gives Nvidia control of an open-source AI platform with 10M developers. Hugging Face's CEO cited the inflection point of open-source AI. The acquisition aligns with Nvidia's strategy to offer a full AI infrastructure stack, from chips to model deployment.

NVIDIA will acquire Hugging Face for $12.93 billion. The platform, used by 18 million developers, will remain open. NVIDIA plans to enhance infrastructure and global reach while preserving openness. Hugging Face's team will join NVIDIA, but the brand will stay.