A rising variety of AI startup founders wish to promote their firms, a potential signal of AI market consolidation, in accordance with Hugging Face’s chief government officer.
Hugging Face, a number one AI startup, introduced Thursday that it has agreed to pay $10 million for a small firm known as Argilla, its fourth acquisition up to now. Whereas Hugging Face has reached out to the corporate in regards to the tie-in, it additionally receives inbound inquiries from many others.
Clément Delange, co-founder and CEO of Hugging Face, informed Bloomberg Information that he receives communications from about 10 AI startups every week which are all in favour of being acquired. “Specifically, it has elevated considerably this 12 months,” he stated.
Hugging Face, which builds synthetic intelligence software program and hosts it for different firms, may very well be a magnet for companies trying to be acquired as a result of it has a whole lot of assets, Delang stated. The New York-based startup raised $235 million from buyers final 12 months, giving it a $4.5 billion valuation.
Nevertheless, the startup is not only ready for firms to method it. Hugging Face beforehand partnered with Argilla, an organization that develops software program that permits individuals to collaborate, to enhance knowledge units used to coach AI that may mimic human language.
The startup’s 13 workers are becoming a member of Hugging Face, Argilla co-founder and CEO Dani Vila Suera stated. Argilla will proceed to function as an impartial workforce with the identical identify.