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Multi-billion greenback AI neighborhood startup Hugging Face announced its fourth acquisition thus far on Thursday, a $10 million purchase of a small AI collaboration platform referred to as Argilla.
Hugging Face CEO Clément Delangue now says he is getting acquisition requests from many extra startups — not less than 10 every week.
“This 12 months, particularly, it has elevated quite a bit,” he advised Bloomberg.
Clément Delangue, CEO of Hugging Face. Tom Williams/CQ-Roll Name, Inc by way of Getty Photos
Hugging Face lets builders overtly share and check AI fashions that anybody can use, and has partnered with corporations like Google and Microsoft. The corporate claims to have over one million AI fashions, datasets, and apps on its platform.
After a $235 million August funding spherical, with investments from Amazon, Nvidia, Intel, and different huge tech names, Hugging Face is now valued at $4.5 billion.
Delangue’s remarks that he sees extra AI startups trying to be acquired might sign that the AI trade is consolidating, or coming into the stage when opponents start merging, per Bloomberg.
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Enormous tech corporations have been quietly buying AI startups not too long ago. In line with a February report from portfolio administration firm Stocklytics, Apple has made probably the most AI startup acquisitions in comparison with its friends, shopping for 32 startups final 12 months and not less than one extra this 12 months.
Google purchased 21 AI startups and Meta acquired 18, per the identical report.
AI stood out final 12 months as one of many best-performing industries for unicorn, or billion-dollar valuation enterprise, development.
A February Morningstar report discovered that greater than 4 of each 10 startups that grew to become a unicorn in 2023 centered on AI and machine studying.
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