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Mistral AI has secured β¬600 million ($640 million) in its Series B funding round, led by General Catalyst, valuing the company at $6 billion. Co-founded by former Meta and Google DeepMind employees, Mistral AI aims to rival top AI models like OpenAI's GPT-4 and Anthropic's Claude 3. The startup has released open-source models such as Mistral 7B, 8x7B, and 8x22B under the Apache 2.0 license, while its advanced proprietary models, including Mistral Large, are available as API-first products. Mistral's generative AI model for code, Codestral, has a restrictive license. The company offers a free chat assistant called Le Chat and has partnerships with cloud providers like Microsoft Azure. CEO Arthur Mensch emphasized the funding ensures Mistral's independence and growth. The round included equity and debt financing, with contributions from Lightspeed Venture Partners, Andreessen Horowitz, Nvidia, Samsung Venture Investment Corporation, and others. The companyβs challenge now is to convert its engineering achievements into revenue by attracting corporate customers. |
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Jun 8, 2024 |
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