Nvidia-Backed Open-Source AI Startup Reaches $4.5B Valuation with Tech Titans' Support
Portfolio Pulse from Anusuya Lahiri
Open-source AI firm Hugging Face, backed by Nvidia Corp, has raised $235 million at a $4.5 billion valuation from major tech companies including Alphabet Inc, Amazon.Com Inc, Salesforce, Inc, Advanced Micro Devices, Inc, Intel Corp, International Business Machines Corp, and Qualcomm Inc. The funds will be used to hire talent to compete in the AI space. The company's valuation and prominent backers reflect the effectiveness of a collaborative approach to AI building.
August 25, 2023 | 5:47 pm
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Amazon's investment in Hugging Face could potentially enhance its AI capabilities.
Amazon's investment in Hugging Face indicates its strategic interest in enhancing its AI capabilities. This could potentially boost its position in the AI market and positively impact its stock.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Alphabet's investment in Hugging Face could potentially enhance its AI capabilities.
Alphabet's investment in Hugging Face indicates its strategic interest in enhancing its AI capabilities. This could potentially boost its position in the AI market and positively impact its stock.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Nvidia's investment in Hugging Face could potentially boost its position in the AI market.
Nvidia's backing of Hugging Face indicates its strategic interest in the AI market. This could potentially boost its position in the market and positively impact its stock.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80