Hugging Face CEO says he hears from 10 AI founders a week who want to sell their startups
Summary
A growing number of AI startup founders are looking to sell their companies, according to the chief executive officer of Hugging Face, in a possible sign of consolidation coming to the artificial intelligence market. Hugging Face, a leading AI startup, announced Thursday that it has agreed to pay $10 million for a small company called Argilla, its fourth acquisition to date. Clément Delangue, co-founder and CEO of Hugging Face, told Bloomberg News he’s hearing from about 10 AI startups each week that are interested in being acquired. Hugging Face, which makes artificial intelligence software and hosts it for other companies, may be a magnet for businesses eager to be purchased since it has plenty of resources, Delangue said. Hugging Face previously worked with Argilla, a company that develops software to let people collaborate to improve the datasets used to train AI that can mimic human language.