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Can I run SmolLM2-135M-Instruct on a Mac with 128 GB?

Yes

Its published weights (269 MB) fit in the 96.0 GB a Mac with 128 GB can use, with room for ≈ 8K tokens of context.

Full analysis of SmolLM2-135M-Instruct Everything that runs on Mac with 128 GB Get the weights on Hugging Face
hf download HuggingFaceTB/SmolLM2-135M-Instruct

Files and context on Mac with 128 GB

Each file of SmolLM2-135M-Instruct (and of GGUF versions the site has analyzed), and how much context fits next to it, with the context cache in 16-bit or 8-bit.

FileSizeOn Mac with 128 GB Context (16-bit)Context (8-bit)
As published269 MBFits8K8K
4-bit (estimate)75.7 MBFits8K8K

SmolLM2-135M-Instruct on other hardware

Popular models that run on Mac with 128 GB

Assumes 75% of the Mac's memory is usable (macOS's default limit for the GPU; it can be raised) and at least 4K tokens of context for one conversation, with the context cache in 16-bit unless noted. Fits leaves at least 20% of that memory for context; Tight leaves less.