News Summary

• Hugging Face has retained bankers to test the market for a sale at a valuation of $13bn or higher.
• It is a striking development for a company that has spent the past decade positioning itself as the neutral ground of machine learning.
• The number represents close to a tripling of the $4.5bn valuation Hugging Face carried after its last outside round, a $235mn raise in August 2023.
• The question a buyer would have to answer is what exactly it is buying.