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So, How Does Hugging Face Make Money?
- Hugging Face, a platform widely used by AI engineers, offers access to open-source models, frameworks, and services for free.
- The platform hosts over one million open-source models and provides distributed GPU services via ZeroGPU.
- Hugging Face operates on a freemium model, offering some services with limited capabilities for free and others with paid upgrades.
- It generates revenue through paid subscriptions like Hugging Face Pro and Enterprise Hub, catering to enterprises and individuals with higher usage needs.
- The platform also offers paid access to cloud-based AI infrastructure from providers like AWS, Google Cloud Platform, and Microsoft Azure.
- Hugging Face has shown profitable growth, with estimated annual revenue reaching $70 million by the end of 2023.
- Backed by significant venture capital, the company has raised close to $400 million and is valued at $4.5 billion.
- Hugging Face's freemium model focuses on attracting enterprise customers by offering premium support and features that appeal to the enterprise segment.
- The platform has expanded into robotics, unveiling open-source humanoid robots like HopeJR and Reachy Mini, with plans for more affordable and accessible robotics solutions.
- The company aims to democratize robotics by offering open-source and affordable robotics solutions, promoting innovation and accessibility.
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