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NVIDIA (NVDA.O) said CEO Jensen Huang announced the company agreed to acquire Hugging Face for $12.93 billion. The firms said they will scale the Hugging Face platform and strengthen its infrastructure while keeping it an open platform for the broader AI ecosystem; developers may choose models, frameworks, cloud and inference providers and compute platforms, and using Hugging Face will not require NVIDIA compute. NVIDIA also disclosed an employee equity retention program for Hugging Face staff of up to $1 billion. The deal is expected to close in 1H 2027, subject to regulatory approvals.

Moonshot AI has privately filed for a Hong Kong IPO and is targeting $3bn–$5bn in primary share proceeds, people familiar with the matter said. BofA will serve as global coordinator; other bookrunners include China International Capital Co, Deutsche Bank and Goldman Sachs. The company could list as soon as this year, though size and timing remain under review.