AI startup Hugging Face has been valued at $4.5 billion after a $235 million funding round backed by tech giants like Salesforce, Google, and Nvidia. The funding round highlights the increasing adoption of AI technology, with other startups like Inflection AI and Runway also raising funds. Nvidia’s chip designs, used in generative AI like ChatGPT, have seen a surge in value, attracting investments from major tech companies. Hugging Face plans to use the funds to expand its team and invest in technology, with revenue expected to increase fivefold this year. The company, which offers an open-source platform for machine learning applications, currently has 170 employees. Co-founder and CEO Clément Delangue believes that in five years, every tech company will be an AI company. Other participants in the funding round include Intel, AMD, Qualcomm, IBM, Amazon, and Ashton Kutcher’s Sound Ventures.
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Hugging Face AI startup valued at $4.5 billion funding. #ArtificialIntelligence
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