Hugging Face: $235 Million Raised At $4.5 Billion Valuation

By Amit Chowdhry ● Aug 25, 2023

Hugging Face is a collaboration platform for the machine learning community. The company recently announced raising $235 million in funding at a $4.5 billion valuation.

The Hugging Face Hub operates as a central place where anyone can share, explore, discover, and experiment with open-source ML. And HF empowers the next generation of machine learning engineers, scientists and end users to learn, collaborate and share their work to build an open and ethical AI future together. Through a fast-growing community, some of the most used open-source ML libraries and tools, and a talented science team exploring the edge of tech, Hugging Face is a central place to the the AI revolution.

The investors in this round include Salesforce, Alphabet’s, Google, Nvidia, Intel, Advanced Micro Devices (AMD), Qualcomm, IBM, Amazon, and Sound Ventures.

KEY QUOTES:

“People around the world are making new connections and discoveries with generative AI tools, and we’re still only in the early days of this technology shift. Our collaboration will bring NVIDIA’s most advanced AI supercomputing to Hugging Face to enable companies to take their AI destiny into their own hands with open source and with speed they need to contribute to what’s coming next.”

— Clément Delangue, co-founder and CEO of Hugging Face

“Researchers and developers are at the heart of generative AI that is transforming every industry. Hugging Face and NVIDIA are connecting the world’s largest AI community with NVIDIA’s AI computing platform in the world’s leading clouds. Together, NVIDIA AI computing is just a click away for the Hugging Face community.”

— Jensen Huang, founder and CEO of NVIDIA

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