Sources: Hugging Face has been exploring a sale that could value it at $13B+, up from $4.5B in 2023, and has been working with a bank to gauge bidders' interest (Katie Roof/Business Insider)

Hugging Face is actively evaluating a potential sale that could lift its valuation above $13 billion, a substantial increase from the $4.5 billion valuation reported in 2023. The company has engaged a financial institution to assess interest from prospective bidders and to structure the transaction.