Hugging Face explores a sale at a $13bn valuation, nearly triple its last one

Hugging Face is testing a sale at a $13 billion valuation, nearly triple its last $4.5 billion round. It raised $235 million in August 2023 led by Salesforce Ventures, Nvidia, Google, Amazon, Intel, Qualcomm, IBM, Sequoia Capital, and Lux Capital. The company has not raised externally since, leaving roughly half of its $400 million total capital unspent. Its Hub hosts over three million public models and a million datasets, generating revenue from subscriptions, enterprise hosting, and compute services. Potential buyers are mainly its existing investors, with no bidder identified yet.