Nvidia Buys Hugging Face 9/3/26

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Bring in show music, please.

**Katie Kramer** (1:00)
Hi, I'm CNBC producer Katie Kramer, today on Squawk Pod. One big deal, Nvidia has officially agreed to buy open-source artificial intelligence platform Hugging Face for nearly 13 billion.

**Becky Quick** (1:13)
What happened? How did you two get together?

**Clement Delangue** (1:17)
Go ahead, Jensen.

**Katie Kramer** (1:18)
CEO of the world's most valuable company, Nvidia's Jensen Huang, now a key Silicon Valley power broker.

**Jensen Huang** (1:24)
Nvidia is the largest AI computing platform in the world. We support clouds, we support new clouds, we support enterprise on-prem. We're all over the world.

**Katie Kramer** (1:34)
Huang on one of his largest deals ever, Hugging Face, a virtual library of AI models that has been targeted by hackers and is ready for the fight of its lifetime. We hear from CEO Clement Delangue.

**Clement Delangue** (1:46)
We needed open models because if you remember, we couldn't defend ourselves.

**Katie Kramer** (1:51)
The full conversation on AI's big future.

**Jensen Huang** (1:55)
AI models are now sufficiently good. The open frontier AI models are sufficiently good, and the agent harness systems that makes it easy for you to build your own AI are now sufficiently good, that both sides are now growing incredibly fast.

**Katie Kramer** (2:11)
A huge show today. It is Thursday, September 3rd, 2026 Squawk Pod begins right now.

**Jensen Huang** (2:18)
Stand Becky by in 3, 2, 1, kill please.

**Becky Quick** (2:23)
Good morning, everybody. Welcome to Squawk Box right here on CNBC. We are live from the NASDAQ Market site in Times Square. I'm Becky Quick along with Andrew Ross Sorkin. Joe is out today.

**Andrew Ross Sorkin** (2:34)
The NBA now suspending Los Angeles Clippers owner, Steve Ballmer, for a year for allegedly helping violate a league salary cap rules related to star player.
Kawhi Leonard, and it was a fascinating story.
In summary, should we give a little summary? The findings assembled by a law firm, that was Wachtell, that investigated the Clippers, saying that the team initiated off-court income opportunities between Leonard and four companies doing business with the team and facilitated endorsement deals between Leonard and the companies. Now, the NBA hit the Clippers with a $30 million fine, that's the league's largest ever fine. The Clippers will also be subject to monitoring and forfeit five first-round draft picks starting in 2029, so it's going to have a big impact. Ballmer is, of course, the co-founder of Microsoft, according to Bloomberg, the ninth richest person in the world. Are we describing who was the co-founder of Microsoft? I don't know if I put it in that. He was an early employee. He was an early employee of Microsoft. In a statement, the Clippers saying that the team rejects the league's findings and intends to seriously challenge them. In a statement through his agent, Leonard said he had no knowledge of anyone's intent to circumvent the NBA's salary cap. He said, I accept full responsibility for lapses in judgment by people within my inner circle and regret the distraction this situation has caused the fans and my family. It raises questions about that ESPN story, which we talked about. I don't know if you were in. I wasn't here that day. Two weeks ago, I came out and said there was going to be no that the case it was was was not real. There was nothing that was going to happen to Steve Ballmer and that he was basically being vindicated in all of this. And so there are a lot of people who are questioning some of the original stories about this.

**Becky Quick** (4:19)
But you should see Steve Ballmer himself and the Clippers put out a statement last night that really fires back very vociferously at this. We need to have that statement and take a look at this as well.