Summary:
Open-source generative AI startup Hugging Face has raised $235 million in a Series D funding round, led by Salesforce Ventures, bringing the startup’s valuation to $4.5 billion. The funding includes investments from major tech players such as Amazon, Google, Nvidia, IBM, Intel, AMD, Qualcomm, and Sound Ventures. Hugging Face operates an open platform that allows developers to share AI models, datasets, and code. The platform hosts 500,000 models, 250,000 datasets, and has over 100,000 monthly users. The company also develops software libraries to help developers implement and evaluate AI systems.
Introduction:
Open-source generative AI startup Hugging Face has secured $235 million in a Series D funding round, led by Salesforce Ventures. The funding round, which included investments from major tech companies like Amazon, Google, Nvidia, and IBM, has doubled Hugging Face’s valuation to $4.5 billion. Hugging Face operates an open platform where developers can find and freely use AI models, datasets, and code. The platform has a large user base of over 100,000 monthly users and hosts 500,000 models and 250,000 datasets. In addition to its platform, Hugging Face creates software libraries that assist developers in implementing and evaluating AI systems.
Main Points:
– Hugging Face is an open-source generative AI startup that has raised $235 million in a Series D funding round, bringing its valuation to $4.5 billion.
– The funding round was led by Salesforce Ventures and included investments from major tech players such as Amazon, Google, Nvidia, IBM, Intel, AMD, Qualcomm, and Sound Ventures.
– Hugging Face operates an open platform where developers can find and freely use AI models, datasets, and code. The platform has a large user base of over 100,000 monthly users and hosts 500,000 models and 250,000 datasets.
– In addition to its platform, Hugging Face creates software libraries that assist developers in implementing and evaluating AI systems. The company has partnerships with many of its investors, such as Nvidia, with whom they are working on a new developer tool called Training Cluster as a Service.
– Hugging Face’s collaborative approach to AI and its developer tools have gained attention and interest from the industry, reflected in its high valuation and high-profile backers.
Conclusion:
Open-source generative AI startup Hugging Face has raised $235 million in a Series D funding round, led by Salesforce Ventures, bringing its valuation to $4.5 billion. The funding round included investments from major tech companies like Amazon, Google, Nvidia, and IBM. Hugging Face operates an open platform where developers can find and freely use AI models, datasets, and code. In addition to its platform, Hugging Face develops software libraries to assist developers in implementing and evaluating AI systems. The company’s collaborative approach to AI and its developer tools have gained attention and interest from the industry, positioning Hugging Face for future advancements in next-generation AI applications.