A rising variety of AI startup founders wish to promote their firms, in accordance with the chief government officer of Hugging Face, in a doable signal of consolidation coming to the synthetic intelligence market.
Hugging Face, a number one AI startup, introduced Thursday that it has agreed to pay $10 million for a small firm referred to as Argilla, its fourth acquisition to this point. Whereas Hugging Face approached the corporate a few tie-up, it’s additionally getting inbound requests from many extra.
Clément Delangue, co-founder and CEO of Hugging Face, instructed Bloomberg Information he’s listening to from about 10 AI startups every week which might be excited about being acquired. “This 12 months, particularly, it has elevated quite a bit,” he stated.
Hugging Face, which makes synthetic intelligence software program and hosts it for different firms, could also be a magnet for companies desirous to be bought because it has loads of sources, Delangue stated. The New York-based startup clinched $235 million in funding from traders final 12 months, giving it a valuation of $4.5 billion.
The startup isn’t simply ready for firms to strategy it, nonetheless. Hugging Face beforehand labored with Argilla, an organization that develops software program to let individuals collaborate to enhance the datasets used to coach AI that may mimic human language.
The startup’s 13 staff are becoming a member of Hugging Face, Argilla co-founder and CEO Dani Vila Suero stated. Argilla will proceed to function as an impartial workforce with the identical title.
