Salesforce Ventures recently announced plans to launch a $250 million generative AI fund, which was later doubled to $500 million. The fund aims to invest in promising AI startups, with Hugging Face being one of the beneficiaries. This move aligns with Salesforce's strategy of adding software development tools to its offerings. The ongoing AI investment trend in the private markets shows no signs of slowing down, with several startups raising significant funding at high valuations.
Key takeaways:
- AI startup Hugging Face is raising a $200 million round led by Salesforce Ventures, at a valuation of $4 billion.
- The new funding round doubles the startup's valuation from May 2022, when it raised $100 million at a $2 billion valuation.
- Salesforce Ventures has recently launched a $250 million generative AI fund and plans to invest in promising AI startups.
- The AI market continues to grow, with startups such as Anthropic, AlphaSense, Character.ai and Adept AI raising significant funding rounds at high valuations.