Hugging Face CEO Clément Delangue
Hugging Face’s CEO, Clément Delangue, notes a rise in AI startup founders looking to sell their companies, indicating potential market consolidation.
Hugging Face, a prominent AI startup, recently acquired Argilla for $10 million, marking its fourth acquisition.
Delangue told Bloomberg News that about 10 AI startups per week express interest in being acquired. “This year, in particular, it has increased quite a lot,” Delangue said according to Forbes.
Hugging Face, which develops and hosts AI software, has significant resources, making it an attractive buyer. Last year, the New York-based startup secured $235 million in funding, achieving a $4.5 billion valuation.
Besides receiving acquisition requests, Hugging Face also proactively seeks deals. The company had collaborated with Argilla, which creates software for enhancing AI training datasets.
Argilla’s 13 employees will join Hugging Face while maintaining the Argilla name and operating independently, according to Argilla co-founder and CEO Dani Vila Suero.
