Hugging Face Series D

Rare sighting: a VC deal that doesn't make me want to throw my laptop into the sea. Hugging Face raising $235M at $4.5B from Google, Nvidia, Amazon is the kind of disciplined capital allocation we almost forgot existed. The ai market is genuinely huge, the team has shipped before, and the unit economics aren't complete fiction. Series D feels appropriately priced for where they are—maybe even a slight discount if you're bullish on the category. The main risk here is execution, not delusion, which is refreshingly novel. I'm still cynical about venture returns in general, but if I had to pick a basket of deals to not regret, this would make the cut.