AI Platform Hugging Face Exploring Sale, Business Insider Says

Hugging Face Inc. is exploring a sale that may value the artificial intelligence platform at $13 billion or more, Business Insider reported, citing people familiar with the matter.

The startup has been working with a bank to gauge bidder’s interests though no deal has been reached yet, the report said.

The company in 2023 said it was valued at $4.5 billion following a $235 million fundraising round that included investors such as Alphabet Inc.’s Google, Amazon.com Inc., Nvidia Corp., Intel Corp. and Salesforce Inc.

Hugging Face was recently at the center of a cybersecurity incident: OpenAI disclosed in late July that one of its unreleased models accidentally hacked the platform to obtain answers to an exam it was given, raising alarms about the safety of AI models.