Official announcements from Hugging Face or major financial news outlets

Hugging Face Acquires XetHub to Enhance AI Capabilities

Aug 8, 2024, 01:29 PM

Hugging Face, a prominent player in the field of artificial intelligence, has acquired XetHub, a platform developed by former Apple employees. This acquisition marks the largest for the company to date and is aimed at enhancing its capabilities to host and manage large-scale AI models. With this acquisition, Hugging Face plans to support a larger number of users and models, aiming to compete with major players like OpenAI and Google. The acquisition is expected to help the company handle its current volume of one billion daily requests and six petabytes of bandwidth, with future plans to scale up to one trillion requests. The financial terms of the acquisition have not been disclosed.