Nvidia Buys Hugging Face for $12.9B & Pharma Companies are Bullish on Baldness artwork

Nvidia Buys Hugging Face for $12.9B & Pharma Companies are Bullish on Baldness

Morning Brew Daily

September 4, 2026

#926: Tesla teases the long-awaited Cybercab and is ready to share more details. Nvidia acquires AI startup Hugging Face in a massive deal valued at $13B. Drugmakers are now shifting to a new spot that promises much growth…baldness.
Speakers: Neal Freyman, Toby Howell, Jake

Topics: Business, News, Business News

**SPEAKER_1** (0:01)
JPMorgan has teams to support you at every stage of your growth. As former founders who have worked in local markets themselves, the bankers at JPMorgan bring deep sector knowledge and lived experience to their clients. JPMorgan can help you navigate complexity with confidence backed by real-world insights and an entrepreneurial perspective. Get what your startup needs now at jpmorgan.com or grow without limits. JPMorgan is the bank of the innovation economy.

**Neal Freyman** (0:28)
Good morning, Brew Daily show. I'm Neal Freyman.

**Toby Howell** (0:31)
And I'm Toby Howell.

**Neal Freyman** (0:32)
Today, why balding treatments could be the next pharma goldmine.

**Toby Howell** (0:36)
Then, did the official launch of the Tesla Cybercab wow or disappoint? It's Friday, September 4th.
Let's ride.

**Neal Freyman** (0:47)
Good morning. Labor Day weekend is here. The glorious three days that mark the unofficial transition from summer to fall. The Brew office is closed on Monday, Labor Day itself. So we've taped a special interview episode to tide you over. Tune in to find out who the mystery guest is. Toby, among other things, this weekend marks the return of a full slate of college football games. And I, for one, am already hyped. Last night, my hometown team of UMass pulled off one of the greatest upsets of all time in the sport, crushing Rutgers despite being 29.5 point underdogs.
UMass did not win a single game last year.

**Toby Howell** (1:24)
Watching you see that score go up, it was like a kid in a candy shop. You had so much joy in your face, so much joy in fact that I got a little bit jealous because I do not have a college team to call my own. Famously, Marquette and Brown are not exactly powerhouse football programs. So the last couple of years, I have been asking our listeners to weigh in and give me a good college football team to support. Not going to lie, last year I was on the Indiana bandwagon, so it's going to be very difficult to live up to the highs of that. But please write it in the comments, email us, DM me on Instagram.
Give me a reason to root for your college football team, and I guess I will reveal my choice after the long weekend.

**Neal Freyman** (2:08)
I'm going to make you pick, though, today, because you can't pick after they play. That is cheating.

**Toby Howell** (2:13)
I need people to state their claims first. The only team I've had my eye on so far is the Utes, the Utah Utes for some reason. We're going out west.

**Neal Freyman** (2:22)
And now a word from our sponsor, American Express.

**Toby Howell** (2:24)
Neal, where's the most memorable place you've ever made a business purchase?

**Neal Freyman** (2:28)
Business happens everywhere these days, like planes, trains, or even during a friend's really long wedding ceremony.

**Toby Howell** (2:34)
Well, you should know the American Express Business Platinum Card can reward your business journey.

**Neal Freyman** (2:39)
You can earn 5x membership rewards points on flights and prepaid hotels booked through amextravel.com and 2x points on eligible purchases in key business categories, as well as on eligible purchases of $5,000 or more. Terms and cap apply.

**Toby Howell** (2:54)
So you can earn points on your business purchases you're already making and redeem them for wherever your journey takes you.

**Neal Freyman** (3:00)
Learn more at go.amext.com/morningbrew.com and find out your welcome offer, which could be as high as 300,000 membership rewards points. That's go.amext.com/morningbrew.comoffer and benefit terms apply.

**Toby Howell** (3:15)
Two years ago, Elon Musk unveiled the first ever Cybercab on a Hollywood studio lot. Yesterday in Austin, Texas, Musk promised to release a storm of them to the world. The reality was more like a sprinkle than a deluge. The glitzy event to celebrate the official commercial launch of the Cybercab was closed to the public. Attendees mostly consisted of Tesla influencers, and Elon himself couldn't be bothered to show up. But it was the first chapter in one of Elon Musk's oldest dreams, a dream he's bet the company's entire future on. In 2024, Musk promised to go, quote, balls to the wall for autonomy, a move he called blindingly obvious. How to the walls were his balls? Well, the Cybercab is designed to be a two-seat car that has no pedals, no steering wheel, no side mirrors, and of course, no driver. Elon has promised to mass produce the car, putting a fleet in every city and remaking urban transportation as we know it. But so far, its robo-taxi service has mainly been operating in Austin since June of last year, using modified model Ys. And it's gone well for the most part, with only a few minor incidents to speak of. But concerningly, after the hype of last summer, the number of paid miles actually being driven by the network is declining. Which brings us back to yesterday's event. It was really a handing of the torch from those modified model Ys to the Cybercab, which has a more advanced version of Tesla's full self-driving technology. And it's designed and built for maximally efficient autonomous operation, according to a Musk tweet. Neal, many analysts have pointed to this as a fork in the road moment for Tesla, where it finally shows it's more than just an EV company and justifies its god evaluation, which is more than the next 59 automakers combined. Was this impressive enough?

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