Hugging Face Raises $235 Million at $4.5 Billion Valuation

Hugging Face is an AI startup that develops tools for building applications using machine learning. Hugging Face is known for its breakthroughs in NLP, a field that focuses on enabling computers to understand, interpret, and generate human language. By leveraging state-of-the-art deep learning algorithms, Hugging Face has achieved remarkable results in tasks such as sentiment analysis, language translation, and text generation.  

Hugging Face has raised $235 million in a Series D funding round, which has brought the company’s valuation to $4.5 billion. The new round was led by Google, Amazon, Nvidia, Intel, AMD, Qualcomm, IBM, Salesforce, and Sound Ventures.  

Hugging Face, New York, United States, was founded in 2016 by Clement Delangue, Julien Chaumond, and Thomas Wolf. “AI is the new way of building all software. It’s the most important paradigm shift of the decade and, compared to the software shift, it’s going to be bigger because of new capabilities and faster because software paved the way,” co-founder and CEO Clément Delangue said. “Hugging Face intends to be the open platform that empowers this paradigm shift.”

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