Alright folks, listen up! We’ve got some big news in the world of artificial intelligence. Hugging Face Inc., a badass startup that deals with AI software and hosts it for other companies, just hit a valuation of a whopping $4.5 billion. And you know how they did it? By raising a jaw-dropping $235 million in funding!
This funding round was no joke, my friends. Heavyweights like Alphabet Inc.’s Google, Amazon.com Inc., Nvidia Corp., Intel Corp., Salesforce Inc., and many others were throwing their money at Hugging Face. These guys mean business! In fact, this latest round brings Hugging Face’s total funding to a mind-blowing $395 million. That’s insane, man!
Now, why are all these big shots going crazy for Hugging Face? Well, it turns out AI startups are all the rage right now. People are throwing money left and right because they believe in the power of AI. And get this, my friends, the tech community is going gaga over open source and freely available AI software. Hugging Face knows this game, my friends. They’ve been at it since 2016, and their platform is the go-to place for companies and individuals to share AI models. I’m talking about big players like Google, Microsoft Corp., and Meta Platforms Inc., my friends. They’re all jumping on the Hugging Face bandwagon.
But here’s the catch, my friends. Hugging Face doesn’t just play the host. They also build their own AI tools and models. They’ve got this thing called IDEFICS, which can generate text based on short written prompts and images. It’s like magic, man!
Now, here’s what Hugging Face plans to do with that $235 million booty. They want to expand their team, my friends. They’ve got 170 employees as of late August, but they want to bring in more talented folks. And let me tell you, hiring in AI is no walk in the park. It’s tough competition out there, especially when you’re looking for the best of the best in science and engineering.
Alright, before I wrap this up, let me give you a little extra nugget of information. The Information spilled the beans on some details of this funding round, and guess what? Salesforce CEO Marc Benioff himself confirmed his company’s participation. That’s right, folks, even Marc Benioff is getting in on the action.
Hugging Face is no small player, my friends. They’re hosting over 500,000 AI models and 250,000 datasets. And the best part? You can access these babies for free! They’ve got a sweet deal going on, charging for cool features like computing power and top-notch customer support. They’re already rocking it with 10,000 paying customers, my friends. It’s a beast of a business!
Alright, that’s the scoop for today. Keep your eyes on Hugging Face, because they’re here for the long haul. And with $4.5 billion in valuation, they’re ready to make some serious waves in the AI world. Stay tuned, my friends!
–With assistance from Ed Ludlow.
(Updates to add CEO’s comment in fifth paragraph.)
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