Nvidia-Backed Hugging Face Seeks $13 Billion Deal Amid Revenue Growth

Nvidia-backed Hugging Face is reportedly seeking a deal that could value the AI business at $13 billion or more. The company has recruited an investment bank to evaluate buyer interest, according to Business Insider.

The discussions are in their infancy and no prospective purchaser has been named in public. However, the valuation of $13 billion is significant, as it suggests a nearly three-fold increase from Hugging Face's 2023 fundraising round, which valued the company at $4.5 billion.

Hugging Face's business has also developed substantially since then, with the company reaching a $100 million annual revenue run rate due to increased adoption of its AI models, tools, and infrastructure by developers and corporations.