Google, Amazon, AMD, Intel, IBM, Nvidia and Salesforce participated in the latest funding round. These companies are spending large sums of money on basic generative AI models or on processors that run these models.
Growth. Artificial intelligence is gaining more and more prominence and learning to perform more tasks.
hugging facean American company that develops tools to build applications using machine learning, has just received huge investments from Google, Amazon, Nvidia and salesforce as the demand for access to AI models grows.
Hugging Face, which acts as a GitHub for machine learning and other AI models, code, and datasets, raised $235 million in a Series D fundraising roundreported CNBC.
This latest funding raises Hugging Face’s valuation at $4.5 billionand this is just one of many companies benefiting from investor interest in generative AI.
This round included computer giants such as Google, Amazon, AMD, Intel, IBM, Nvidia and Salesforceall of which have been investing significantly in basic generative AI models or in processors that run these models.
Clement Delangue, CEO of Hugging Face, said this new round of funding will be used “to grow the team that currently numbers 170 people and invest in more open source AI and platform building.” He also said that The investment also underscores the importance of the open source community in building the generative AI community.
“It’s a validation for both Hugging Face and the broader open source AI ecosystem”Delangue asserted and expanded: “Companies want to create AI themselves and for that they need open source AI.”
Hugging Face owns several popular Generative AI models, such as Stability AI’s Stable Diffusion and Meta’s Llama 2 and its variants. Amazon’s AWS and Hugging Face have partnered to make AWS Cloud the cloud provider of choice for Hugging Face.
Generative AI has a large open source community, and many large AI companies choose to release their models with some semblance of openness, allowing developers to experiment but at the same time requiring users to adhere to a limited user license.
Source: Ambito
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