Mistral AI $2 billion valuation

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Mistral AI, a French generative AI startup, is reportedly nearing a valuation of $2 billion, less than a year after its founding. The company is in the final stages of securing approximately €450 million ($487 million) in a funding round. The round is led by Silicon Valley VC firm Andreessen Horowitz, which is expected to invest €200 million. Other notable investors include Nvidia and Salesforce, which are reported to be contributing €120 million in convertible debt. Mistral AI was founded by former researchers from Alphabet's DeepMind and Meta Platforms. The company specializes in open-source software for chatbots and other generative AI tools, positioning itself as a more cost-effective and efficient alternative to its U.S. counterparts. In September, Mistral AI released its first large language model, Mistral 7B, under the open-source Apache 2.0 license. The company's rapid ascent to a $2 billion valuation within its first year reflects the tech industry's optimism about the future potential and profitability of AI businesses. This funding round follows a €105 million seed round investment that the company secured just a month after its founding. As part of the current deal, Mistral's three co-founders, Arthur Mensch, Timothée Lacroix, and Guillaume Lample, will part with more than €1 million each in equity. However, it's important to note that the details of the deal are still subject to change and the involved parties have declined to comment on the potential proceedings.
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