Nvidia’s $12.93B Hugging Face Bet, EverBank–WaFd’s $3.9B Merger, and Three More Deals

The week ending September 9, 2026, produced five disclosed transactions with enough public detail to compare value and strategic intent. Nvidia agreed to buy Hugging Face for $12.93 billion; EverBank and WaFd agreed to a $3.9 billion reverse merger; Chime agreed to buy Stride Bank for $590 million; GSK paid $110 million upfront for rights to Hutchmed's HMPL-A830 cancer program, with potential payments taking the deal to about $1.3 billion; and PlusAI agreed to a SPAC merger valuing the autonomous-trucking software company at about $800 million before new capital. Enterprise SaaS contributed no pure-play acquisition with disclosed economics that cleared the inclusion bar, so the software entries this week are AI-model infrastructure and autonomous-driving software.

Nvidia agreed on September 3 to buy Hugging Face in a proposed transaction valued at $12.93 billion. The consideration includes $11.9 billion for Hugging Face investors and an equity-based retention program of up to $1 billion for employees joining Nvidia. The deal remains pending. 1

Hugging Face, founded in 2016, runs a New York-based developer platform for open-source AI. The platform hosts models and datasets and provides software libraries and cloud services for building and deploying AI applications. Nvidia's stated interest reaches beyond model hosting: the company wants a closer relationship with developers who choose the models and infrastructure used to run AI workloads. That relationship may create more demand for Nvidia processors as customers build their own AI systems. 1

The transaction also gives Nvidia a software and developer channel while major customers develop their own chips. Hugging Face is expected to remain open, with developers retaining choices over models, chips, and cloud platforms. The headline value therefore combines cash for investors with a separate retention package, while the strategic payoff depends on keeping the platform's developer reach intact. 1

EverBank Financial and WaFd agreed on September 7 to a $3.9 billion reverse merger. WaFd will remain the publicly traded company and change its name to EverBank Financial Corp.; EverBank investors will own about 59.2% of the combined company, and WaFd shareholders will own about 40.8%. The parties expect to close in early 2027, subject to regulatory and shareholder approvals. 23

The combined bank is expected to have about $75 billion in assets. EverBank brings a nationwide specialty bank, direct consumer banking, 28 financial centers in California, and commercial and industrial lending. WaFd brings a Seattle-based bank holding company founded in 1917, more than 200 branches across nine western states, commercial real estate lending, deposits, treasury management, and other financial services. 23

The buyer logic is a combination of scale and funding mix. WaFd's commercial deposits would sit alongside EverBank's retail deposits, while EverBank's affluent customer base would give WaFd a larger base for wealth management. The announced plan projects about 29% 2027 earnings-per-share accretion for WaFd shareholders and a tangible-book-value dilution earn-back period of less than two years. Those benefits remain subject to approvals, closing, and the delivery of projected cost synergies. 3

Chime agreed on September 8 to acquire Stride Bank for $590 million in cash. The transaction is expected to close in the first half of 2027, after which Chime will manage Stride's balance sheet. Chime expects more than $100 million in net synergies. 5

Stride is a nationally chartered bank based in Enid, Oklahoma. Founded in 1913, Stride provides consumer and commercial banking services and has partnered with Chime for more than seven years. The asset is regulated banking infrastructure rather than a standalone software product. 5

Chime said the acquisition gives it a faster route to full-stack ownership than applying for a new bank charter. The rationale also includes expanding lending. The transaction shifts a critical regulated layer from a long-term partner into Chime's own corporate structure, with closing and integration still ahead. 5

GSK agreed on September 3 to pay Hutchmed $110 million upfront for a majority of the rights to HMPL-A830. The deal can add roughly $1.19 billion in milestone payments and royalties, bringing the potential total to about $1.3 billion. Hutchmed will run the Phase 1 studies, and GSK will take over global development outside mainland China, Hong Kong, Macau, and Taiwan. 4

HMPL-A830 is an antibody-targeted therapeutic conjugate. The antibody targets EGFR, while the attached small-molecule payload is designed to block KRAS. Hutchmed's preclinical work reported anti-tumor activity and durable responses. The program is aimed at tumor types in which EGFR or KRAS mutations create a treatment need, and Hutchmed plans to move the candidate into the clinic this year. 4

GSK is buying access to a dual-target oncology mechanism while leaving early clinical execution with Hutchmed. The structure puts a small fraction of the maximum value at signing and leaves most of the potential payment dependent on development, regulatory, and commercial outcomes. 4

PlusAI agreed on September 3 to go public through a merger with Texas Ventures Acquisition III Corp. The transaction values PlusAI at about $800 million in pre-money equity value and could provide about $300 million of capital, including more than $60 million in committed financing and roughly $236 million held in the SPAC trust. The merger remains pending. 6

PlusAI, based in Santa Clara, develops SuperDrive, a Level 4 autonomous-driving system for commercial trucks. The company is targeting commercial launch in 2027, operates autonomous freight routes in Texas with Ryder and International, and uses its HyperFoundry platform for software development. Reuters reported $25 million of revenue from HyperFoundry and a 2026 contracted-revenue target of $40 million to $50 million. 6

The SPAC route supplies capital for a company moving from testing toward commercial freight operations. The value is an equity-market valuation rather than a cash purchase price for an existing company, and the capital available at closing depends on the financing and trust-account assumptions in the agreement. 6

Nvidia is buying Hugging Face's developer distribution alongside its AI software. Chime is buying a bank charter and the infrastructure that supports its consumer-finance products. EverBank and WaFd are combining retail deposits, commercial relationships, branches, and lending capabilities. In each case, the acquired asset gives the buyer a direct route to users, funding, or regulated execution that previously sat at arm's length. 135

The five headline amounts describe different economic ledgers. Nvidia's $12.93 billion includes employee retention equity. EverBank and WaFd's $3.9 billion is a reverse-merger value with stock ownership on both sides. Chime's $590 million is an all-cash purchase price. GSK's $1.3 billion is a maximum that includes milestones and royalties after a $110 million upfront payment. PlusAI's $800 million is a pre-money equity valuation paired with a separate capital raise. Comparing those figures requires reading the structure beside the number. 12456

Hugging Face already has a large developer platform. Stride already operates a national bank and has a long partnership with Chime. EverBank and WaFd are combining operating franchises with existing deposits and branches. PlusAI is financing a move toward commercial deployment, while GSK is taking rights to a preclinical cancer program and leaving Phase 1 work with Hutchmed. The mix separates immediate operating capability from future product and regulatory risk. 12456

This issue covers governing announcement dates from September 3 through September 9, 2026, inclusive. The five entries use Reuters, BioPharma Dive, and an original EverBank company announcement. The issue includes one acquisition, one reverse merger, one rights transaction, and one SPAC merger alongside a second bank acquisition because each transaction disclosed enough economics and strategic detail for comparison. Enterprise SaaS produced no pure-play acquisition with disclosed economics that met the inclusion bar during this window; terms-undisclosed software candidates were left out rather than assigned estimated values.