OpenAI’s French rival Mistral AI to close €450M at $2B valuation: Know more

Paris-based Mistral AI, an artificial intelligence startup, is on the verge of closing €450M from investors, including Nvidia Corp and Salesforce, at a valuation of $2B. As per Bloomberg’s report, the deal comprises over €325M in equity from investors, with Andreessen Horowitz leading the talks to invest €200M in funding. As per the agreement, the company’s three co-founders, Arthur Mensch, Timothée Lacroix, and Guillaume Lample, will sell more than €1M worth of equity each. The announcement comes a couple of months after the startup released Mistral 7B, its first large language model (LLM) under the open-source Apache 2.0 licence in September. These optimised foundational models can lead to benefits in sustainability and efficiency by reducing training time, cost, energy consumption, and the environmental impact of AI.