Nvidia to Buy Hugging Face for $12.9 Billion, Gaining More Exposure to Open Model AI

Nvidia is reportedly in advanced talks to acquire artificial intelligence (AI) start-up Hugging Face in a deal that could total around $14Bn. Nvidia could reach an agreement to acquire Hugging Face for $12.9Bn as soon as this week.

The deal could include a $1Bn retention package for Hugging Face employees. Hugging Face, which only last year turned down a large investment from Nvidia at a $7Bn valuation to maintain its independence, serves as a repository for millions of models and data sets and has become a champion of “open” AI systems.

Nvidia said the goal of the deal was to speed up the spread of open models.

Unlike proprietary models from LABS such as OpenAI and Anthropic, open-weight models are public, and users can download, customise, and run them on their own hardware. A final agreement hasn’t been reached and the timing or details could still change.

Representatives for Nvidia and Hugging Face declined to comment. Buying Hugging Face would be the biggest move yet in CEO Jensen Huang’s push to broaden the uptake of ai and extend his customer list.

Reference Sources

1. barrons - Nvidia to Buy Hugging Face for $12.9 Billion, Gaining More Exposure to Open Model AI
2. thestarmy - Nvidia nears US$14bil deal this week for startup Hugging Face
3. ft - Nvidia to buy open-source AI platform Hugging Face for $13bn
4. barrons - Why Is Nvidia Willing to Pay $14 Billion for Hugging Face?
5. barrons - Nvidia’s $14 Billion Hugging Face Deal Looms But Does It Make Sense?

Netherlands Moves Gold From New York to London, Citing Geopolitical Unrest

The Dutch central bank, De Nederlandsche Bank (DNB), has moved more than 78 metric tons of gold out of New York as it reallocated about 86 total metric tons of gold held across the us and Canada, largely toward London.

The bank said the overhaul was designed to strengthen its readiness for a crisis amid “ increasing geopolitical Unrest. ”

DNB did not blame Trump or suggest Washington was planning to seize its reserves.

Instead, the central bank said spreading its gold more evenly across jurisdictions would reduce risk while making more of the precious metal readily available during a crisis. Following the move, London's share of DNB's gold reserves rose to 32.1% from 11.8%, while New York's fell to 18.5% from 33.3%.

Meanwhile, about 32.8% of the reserves remained at DNB's cash centre in Zeist, central Netherlands.

The move is part of the bank's crisis preparedness.

The Bank owns 612.4 metric tons of gold that was worth $83.6 billion at the end of 2025.

Reference Sources

1. nbc - Dutch central bank shifts billions in gold from U.S. to Europe in ‘crisis preparedness’ move
2. wsj - Netherlands Moves Gold From New York to London, Citing Geopolitical Unrest
3. thestarmy - Dutch central bank cuts U.S.-held gold to bolster crisis readiness
4. apnews - Dutch central bank shifts billions in gold to London in ‘crisis preparedness’ move
5. newyorkpost - Dutch yank gold out of New York, citing 'geopolitical unrest' -- second Euro country to nix US gold stores this year

Thomson Reuters detects ‘cyber incident’, says files accessed

Thomson Reuters has taken containment and security measures following a Cybersecurity incident involving its C-Track case management platform in 11 US states, the US Virgin Islands and Canada on 30 June.

An unauthorised party obtained certain C-Track files in March, according to a Thomson Reuters investigation.

Some court records, including names and personal information, were affected.

Thomson Reuters confirmed that it had taken measures to contain the activity, working with Ontario’s Ministry of the Attorney General and the courts.

The court systems affected were in Alabama, Pennsylvania, Kentucky, Montana, Nevada, North Dakota, South Carolina, Tennessee, Ohio, New Hampshire, Wyoming and the us Virgin Islands.

The chief justices of the Court of Appeal for Ontario, the Ontario Superior Court of Justice and the Ontario Court of Justice said that Thomson Reuters had taken steps to contain the activity, working with Ontario’s Ministry of the Attorney General and the courts.

Reference Sources

1. thestarmy - Thomson Reuters detects cybersecurity incident, says unauthorized party accessed files
2. thesunmy - Thomson Reuters detects ‘cyber incident’, says files accessed

The CommonWealth English daily news digest is a service curated by CommonWealth English team with the help of AI tools.  

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