Mistral AI, based in Paris, has announced that it has successfully secured a significant investment of 385 million euros ($414.41 million) in its recent funding round. This marks the second substantial investment for the company in just seven months. Esteemed investors such as Andreessen-Horowitz and LightSpeed Ventures have played a key role in leading this funding initiative.
Although the company has chosen not to reveal its current valuation, an insider has hinted that it is approximately 2 billion euros, which places Mistral AI in a prominent position among the leading global players in the AI sector. It is worth mentioning that Mistral AI, founded by esteemed researchers from Meta and Google AI, successfully raised a remarkable sum of 105 million euros merely one month after its establishment in June.
In addition to its successful funding, Mistral AI has introduced Mixtral 8x7B, an open model that aims to compete with well-known AI platforms like OpenAI's ChatGPT and Google's Bard, presenting itself as Europe's alternative. The Mistral AI platform is now in beta testing and will be fully operational in early 2024.
The company, strategically based in Paris, has been actively involved in advocacy efforts to influence changes to the upcoming EU AI Act. It is important to mention that Mistral AI has received support from the French government in its pursuit.
In light of the recent advancements in AI legislation on Friday, Mistral AI has chosen not to provide any detailed remarks on the deal. The company takes pride in its noteworthy group of supporters, which include Salesforce, BNP Paribas, General Catalyst, La Famiglia, Eric Schmidt, New Wave, Motier Ventures, and Sofina.
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Mistral AI expresses its aspiration to achieve state-of-the-art AI capabilities shortly with a forward-thinking approach. The company is devoted to creating customized products for developers and enterprises, highlighting its dedication to pushing the boundaries of AI.
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