Hugging Face has hired a financial adviser to explore potential acquisition offers for its developer infrastructure business. The company is targeting a valuation of at least $13 billion, which would nearly triple its $4.5 billion valuation from 2023, according to Business Insider. The platform allows developers to publish, discover and download AI models from across the industry, though no formal agreement has been reached.
The pursuit of a sale follows Stripe's agreement to buy AI model marketplace OpenRouter for approximately $8 billion. The trend reflects rising valuations for platforms that sit between frontier AI laboratories and the developers building with their models. Hugging Face's investors include Salesforce Ventures, Lux Capital and Addition.
Key sources
- SOURCE@katie_roof“could get bought for $13B…or higher!”x.com
- SOURCE@businessinsider“highlighting its key role in the AI ecosystem”x.com
- SUPPORT@wallstengine“Unlike frontier AI labs, Hugging Face sits at the infrastructure layer”x.com
- SUPPORT@stockmktnewz“Hugging Face's investors include Lux Capital, Addition and Salesforce Ventures”x.com
- SUPPORT@techmeme“working with a bank to gauge bidders' interest”x.com