Artificial Intelligence (AI) start-up Hugging Face has secured $235m in a Series D funding round, that featured numerous tech giants.
Key technology players, including IBM, Amazon, Google, Qualcomm Ventures, and Intel were all apart of the mammoth investment, which now sees New York-based firm’s value rise to $4.5b.
The additional funding will further strengthen Hugging Face’s position as the leading open-source and open science artificial intelligence platform.
Clem Delangue, CEO and co-founder of Hugging Face, shared the news on a LinkedIn post, he stated: “Super excited to welcome our new investors Salesforce Ventures, Google, Amazon, NVIDIA, AMD, Intel Corporation, Qualcomm Ventures, IBM & Sound Ventures who all participated in Hugging Face’s $235M series D at a $4.5B valuation to celebrate the crossing of 1,000,000 models, datasets and apps on the platform.
“These partners alone shared over 1,000 open models and datasets and have over 10,000 users on Hugging Face already. It takes a village to democratise good machine learning with open-source and we’re just getting started!”
Hugging Face’s unique selling point compared to their rivals across the AI space is its collaborative approach to building AI. Unlike companies that guard their AI models and charge customers for access, Hugging Face provides a platform where developers can freely share code, models and datasets.
Their website allows users to upload models and weights. It also develops software tools called libraries that aid in model implementation, dataset cleaning and performance evaluation.
Keep up with all the latest FinTech news here.
Copyright © 2023 FinTech Global
