I was curious so I tried to answer this question
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Training Llama 3 models emitted 2290 tons CO2e (https://github.com/meta-llama/llama3/blob/main/MODEL_CARD.md), and took 7.7 million GPU hours. Those GPU hours are for H100s, which consume 700W. So the conversion is approximately 2290 / (7.7e6 * 3600 * 700 / 1e9) ~= 0.12 tons CO2e per GPU-gigajoule.
A100s (what Huggingface offers) consume 400W (https://www.nvidia.com/content/dam/en-zz/Solutions/Data-Cent...) and cost $2.21/hour (in e.g. CoreWeave https://www.coreweave.com/gpu-cloud-pricing). So $10 million in H100s buys you ($10e6 / $2.21/h * 3600s/h) * 400W ~= 6515 Gigajoules in GPU-hours.
So Huggingface's offering will emit ~781 tons CO2e. Less if they've inflated the value of the compute they provide, which they have an incentive to do, but let's round to 800 tons.
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According to https://www.carbonindependent.org/22.html, one Boeing-737-400 flying for 926km emits (3.61 tons fuel/flight * 3.15(g CO2e / g fuel)) = 11.37 tons CO2e .
So $10million in compute is like ~72 Boeing-737-400 international flights.
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Every day the FAA (so only in the USA) handles, on average, 45,000 flights (https://www.faa.gov/air_traffic/by_the_numbers). If only 1% of these are international (very rough calculation), the total amount of compute released by this Huggingface announcement is like 16% of one day's USA international flights.
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This may sound like very little or like a lot to you.