Another New Funding Round with IBM

Another New Funding Round with IBM

Another New Funding Round with IBM
Another New Funding

Hugging Face Raises $235M in Series D Funding Round Led by IBM

Hugging Face, the open-source AI platform, has raised $235 million in a Series D funding round led by IBM. The round also included participation from Google, Amazon, Intel, and Salesforce. This brings Hugging Face's total funding to $340 million and its valuation to $4.5 billion.

Hugging Face is a platform for building, training, and deploying large language models. Its library of pre-trained models is used by developers and researchers around the world. The company's platform is also used by businesses to power a variety of applications, such as chatbots, natural language processing (NLP) tools, and machine translation.

The new funding will be used to accelerate Hugging Face's growth and expand its reach to new markets. The company plans to invest in its product development, open source community, and go-to-market efforts.

"We are excited to partner with IBM to accelerate the adoption of open source AI," said Clément Delangue, co-founder and CEO of Hugging Face. "IBM's deep expertise in enterprise AI and cloud computing will be invaluable as we help businesses build and deploy AI solutions that solve real-world problems."

"IBM is committed to helping our clients accelerate their AI transformation," said Arvind Krishna, CEO of IBM. "Hugging Face is a leading open source AI platform that is helping developers and researchers build and deploy AI models more easily and efficiently. We are excited to partner with Hugging Face to bring the power of open source AI to our clients."

This funding round is a major validation of Hugging Face's mission to make AI more accessible and equitable. The company is well-positioned to continue its growth and become a leading player in the open source AI space.

In addition to the financial investment, IBM and Hugging Face have also announced a collaboration to develop and deploy AI solutions for businesses. The companies will work together to create a platform that makes it easy for businesses to build, train, and deploy AI models. The platform will be powered by Hugging Face's open source AI library and IBM's cloud computing platform.

This collaboration is a significant step forward in the development of open source AI. It will make it easier for businesses to adopt AI and use it to solve real-world problems.

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