Nvidia Rises 2% Near $235.74 Record as $13 Billion Hugging Face Deal Expands AI Reach
Updated
Updated · Yahoo Finance · Sep 4
Nvidia Rises 2% Near $235.74 Record as $13 Billion Hugging Face Deal Expands AI Reach
3 articles · Updated · Yahoo Finance · Sep 4
Summary
$230.36 put Nvidia within about 2% of its May 14 record after the stock climbed as much as 2% Friday before trimming gains.
AI chip shares kept advancing, while reports that Anthropic is preparing an IPO added momentum for Nvidia, which committed up to $10 billion to the startup last year.
The rally also followed Nvidia's nearly $13 billion acquisition of Hugging Face, a model hub used by more than 18 million developers and 200,000 companies.
That deal fits a broader expansion push: Nvidia this week also announced a $3.5 billion investment in MediaTek to spread its NVFusion platform and stay tied to custom-silicon demand.