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Mistral AI Secures $640 Million, Boosting Valuation to $6 Billion

The French startup's funding round, led by General Catalyst, positions it as a key player in the AI landscape, challenging major U.S. competitors.

Arthur Mensch, co-founder and CEO of Mistral AI attends the UK Artificial Intelligence (AI) Safety Summit at Bletchley Park, in central England, on November 2, 2023. (Photo by TOBY MELVILLE / POOL / AFP) (Photo by TOBY MELVILLE/POOL/AFP via Getty Images)
Europe technology
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Overview

  • Mistral AI's valuation has surged from $2 billion to $6 billion in six months.
  • The funding round includes contributions from notable investors like Nvidia, IBM, and Cisco.
  • Mistral AI is developing both open-source and proprietary AI models for various applications.
  • The company aims to expand its global presence, particularly in the U.S., and increase computing capacity.
  • European regulators are scrutinizing Mistral's partnerships due to potential market concentration concerns.