Artificial intelligence startup Hugging Face is exploring a sale that could value the company at $13 billion or more, according to a media report citing insiders.
The New York-based firm has engaged a bank to assess potential bidder interest, Business Insider reported on Sunday, without citing a company statement. Hugging Face develops open-source large language models and datasets.
The company was last valued at $4.5 billion in a 2023 funding round led by technology giants including Salesforce, Google’s Alphabet and Nvidia. The round raised $235 million, according to filings at the time.
Hugging Face’s open-source approach has positioned it as a key player in the AI ecosystem, with its models and datasets widely used by developers and enterprises. The company’s potential sale comes amid heightened consolidation in the AI sector, as major tech firms seek to bolster their capabilities in generative artificial intelligence.
A spokesperson for Hugging Face did not immediately respond to requests for comment.
