IBM Participates in $235 Million Series D Funding Round of Hugging Face

IBM has announced that it is participating in a $235 million series D funding round of Hugging Face, an open-source AI platform. The investment will help accelerate technology innovation and strengthen Hugging Face's position as the leading platform for open-source AI.

IBM has already contributed over 200 open models and datasets to Hugging Face, including a recent release with NASA. The company also plans to host Meta's Llama 2-chat 70 billion parameter model within its Watsonx platform. IBM is committed to leveraging both third-party and its own AI models to maintain open innovation. This investment in Hugging Face aligns with IBM's strategy of providing global hybrid cloud and AI expertise, and consulting services to clients in various industries. The collaboration between IBM and Hugging Face will help enterprises build, deploy, and customize foundation models across multiple domains using pre-trained models from the community. IBM's commitment to open innovation and its partnership with Hugging Face demonstrate its dedication to providing cutting-edge technology solutions that drive business growth and success.