AI Startup Hugging Face Valued at $4.5 bn
Hugging Face, an AI firm, claimed on Thursday that a $235 million fundraising round led by Alphabet’s Google, Nvidia, and Salesforce (CRM.N) valued it at $4.5 billion.
The most recent round of funding shows how artificial intelligence (AI) is being used more and more frequently. AI has been heralded by many as the next technological frontier and has drawn some of Silicon Valley’s top investors.
OpenAI’s ChatGPT chatbot has led to several AI startups raising funds, including Microsoft-backed Inflection AI and Google-backed Runway. Nvidia, a chip designer widely used in generative AI, has tripled its value this year and is set to hit an all-time high. Hugging Face’s latest funding round also included Intel, AMD, Qualcomm, IBM, Amazon, and Sound Ventures.
(With inputs from Shikha Singh)
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