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French artificial intelligence startup Mistral raises US$640 million and is valued at US$6 billion

File photo: Artificial intelligence startup Mistral raised approximately US$640 million in Series B financing, bringing its valuation to nearly US$6 billion.

File photo: Artificial intelligence startup Mistral raised approximately US$640 million in Series B financing, bringing its valuation to nearly US$6 billion. | Image source: Reuters

Mistral AI, a Paris-based artificial intelligence startup, raised €600 million (approximately $640 million) in a Series B round of financing through a mix of debt and equity, bringing its valuation to nearly $6 billion.

The financing was led by General Catalyst, with participation from Lightspeed, Andreessen Horowitz, Bpifrance and the investment arms of IBM, Samsung, Cisco and Nvidia.

Co-founded by former Meta and Google DeepMind engineers, Mistral in the spotlight A year ago, the company raised $112 million in Europe’s largest-ever seed round. An additional $415 million brought in late last year pushed the company’s valuation to more than $2 billion.

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“I’m delighted to see investors old and new have renewed confidence in our business and provide new support for its expansion. This new round of funding puts us in a unique position to push the frontiers of artificial intelligence and bring the most advanced Bringing technology into everyone’s hands. . “It guarantees the company’s continued independence and remains completely under the control of the founders. “

The company said it intends to use the funds to build more computing power and expand cross-division teams to expand global commercialization and remain a strong contender in the artificial intelligence race.

The startup has released a series of open source models that compete with OpenAI’s GPT-4, Google’s Gemini Pro and Anthropic AI’s Claude 2.

Not long ago, Mistral Partnering with technology companies like MicrosoftSnowflake, Databricks, Capgemini, IBM and Perplexity.

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