Multi-billion greenback AI group startup Hugging Face introduced its fourth acquisition so far on Thursday, a $10 million purchase of a small AI collaboration platform known as Argilla.
Hugging Face CEO Clément Delangue now says he is getting acquisition requests from many extra startups — at the very least 10 every week.
“This yr, particularly, it has elevated quite a bit,” he instructed Bloomberg.
Clément Delangue, CEO of Hugging Face. Tom Williams/CQ-Roll Name, Inc through Getty Photos
Hugging Face lets builders overtly share and take a look at 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 seeking to be acquired may sign that the AI business is consolidating, or coming into the stage when rivals start merging, per Bloomberg.
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Large tech corporations have been quietly buying AI startups lately. In keeping 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 yr and at the very least one extra this yr.
Google purchased 21 AI startups and Meta acquired 18, per the identical report.
AI stood out final yr as one of many best-performing industries for unicorn, or billion-dollar valuation enterprise, progress.
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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