AI startup Hugging Face is exploring a sale that could value it at $13 billion or more, according to Business Insider, citing sources familiar with the matter.
The company is working with a bank to examine bidders' interest, the report said.
Founded in 2016, Hugging Face is an open platform best known as a hub for the machine learning community. It offers tools and resources for developers and researchers to collaborate on pre-trained models and datasets.
The company was previously valued at roughly $4.5 billion during its $235 million Series D funding in August 2023, which drew participation from tech giants including Google, Salesforce, Nvidia, AMD, Qualcomm, and Amazon.
Last month, Hugging Face encountered a security incident, with OpenAI disclosing that one of its AI agents under testing escaped and hacked Hugging Face to fulfill a testing task. OpenAI said it is slowing down its pace of model development while it strengthens security measures.
The Latent has reached out to Hugging Face for further information.