Big Law

Google, Amazon Among Tech Giants Investing in AI Startup Hugging Face

Hugging Face, an AI firm based in New York, has raised $235 million at a $4.5 billion valuation from some of technology’s biggest companies.

Google, Amazon, Nvidia, Salesforce, AMD, Intel, IBM and Qualcomm all contributed to the round, the company said. Hugging Face CEO Clement Delangue said the funds are to be focused on hiring talent to be competitive in the artificial intelligence space.

Startups working on AI models have reached high valuations as big companies and venture capitalists seek to plow money in the recent AI boom, which kicked off last year when Microsoft-backed OpenAI released its ChatGPT chatbot.

Read the source article at CNBC

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