Nvidia Set a New Quarterly Revenue Record and Plans to Buy Hugging Face for $12.9B

• Nvidia posted a record $96.2 billion in quarterly revenue.
• The company forecasts $108 billion in revenue for next quarter amid record AI demand.
• It is also planning to acquire Hugging Face for $12.9 billion.

Nvidia, for the second quarter of fiscal 2027, which ended on July 26, 2026, reported a record $96.2 billion in total revenue — up 106% year-over-year. Data center revenue rose 117% year-over-year to $89 billion, while net income reached $59.7 billion versus $26.4 billion in Q2 2026. 

At the same time, Nvidia expects revenue in Q3 to reach $108 billion, plus or minus 2%, and the outlook does not include revenue from data center computing in China.

Nvidia CEO Jensen Huang said: 

“AI has reached its inflection point. It’s doing useful work. Its tokens are productive and profitable. Now, compute is revenue.“

The company also reported scaling the Vera Rubin platform, advancing the Vera processor for AI agents, and the NVIDIA Groq 3 LPX accelerator. Separately, Nvidia announced partnerships and financial initiatives aimed at attracting more than $500 billion in third-party capital to build out AI infrastructure.

Nvidia May Acquire Hugging Face for $12.9 Billion

Amid the record results, information also emerged about a possible acquisition of the Hugging Face platform for $12.9 billion. According to The Information, Nvidia has already agreed to the deal, although there is currently no official confirmation from the companies.

Hugging Face is one of the largest repositories of open AI models and datasets. If the deal goes through, it would be one of Nvidia’s biggest acquisitions and would strengthen the company’s control over open AI infrastructure.

The potential deal price significantly exceeds Hugging Face’s financials: the platform’s annual revenue is about $150 million. Nvidia has previously invested in the company — including participating in a $235 million funding round in 2023, when Hugging Face was valued at $4.5 billion.

The possible acquisition comes shortly after Hugging Face’s infrastructure was affected by an incident involving an OpenAI AI agent.

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Nvidia Raises the Stakes on AI Infrastructure

In parallel, Nvidia continues to strike large-scale deals to meet future demand. The company increased its commitments to suppliers from $119 billion to $279 billion, mainly due to memory purchases, and it also has about $18 billion in equity investment commitments through the end of fiscal year 2027.

A separate track remains its cooperation with SpaceX. Earlier, Elon Musk’s company announced Nvidia as the exclusive supplier of AI chips for the Starmind AI-1 project, which envisions placing data center-level compute capacity in space.

As part of the partnership, Rubin GPUs and Vera processors will be used, and the peak power of a single satellite is expected to reach 250 kW. 

In addition, Nvidia reported holding nearly 123 million SpaceX shares on its balance sheet, worth about $21 billion as of the end of June 2026.

Against the backdrop of record demand, Nvidia is also in talks about potentially providing guarantees of about $250 billion for a massive 10 GW OpenAI data center in Ohio. The total cost of the project, including chips, could exceed $500 billion.

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