French start-up Mistral AI could soon be valued at 2 billion euros

2023-12-09 20:09:57

By JDS

Published 8 hours ago, Updated now

The three co-founders of Mistral AI, Timothée Lacroix, Arthur Mensch and Guillaume Lample. Renaud Khanh / Renaud Khanh/ABACA

Created last April, this specialist in generative AI, rival of the American OpenAI and its ChatGPT, is about to finalize a new fundraising of 400 million euros, according to information from the Financial Times.

A little more than seven months after its creation, the French start-up Mistral AI could soon be valued at 2 billion euros. According to Financial Times, the French start-up specializing in generative artificial intelligence should raise 400 million euros. The British business daily specifies that the agreement, which values ​​Mistral AI at 2 billion euros, should be signed shortly, with an announcement planned for next week. Mistral AI had already carried out a first record fundraising of 105 million euros last June.

Less expensive technology

Earlier in the week, Bloomberg had mentioned a fundraising of 450 million euros. The deal reportedly includes more than €325 million in equity, with the prestigious US fund Andreessen Horowitz alone investing €200 million. For their part, the American giants Nvidia and Salesforce would contribute 120 million euros in convertible debt. According to Financial Timesthe French bank BNP Paribas and the American venture capital company General Catalyst would also be part of this funding round.

Also read “History”: the European Union reaches an agreement to regulate artificial intelligence

Co-founded by three French AI researchers who worked at the American Gafa, Arthur Mensch, Timothée Lacroix and Guillaume Lample, Mistral AI aims to create from Europe a new player with a global vocation in generative AI. A booming sector, as illustrated by the ChatGPT phenomenon. The French start-up released its very first language model last September, a few months ahead of its roadmap. One of its co-founders, Arthur Mensch, ensured Financial Times last October that their technology was more efficient and less expensive than those developed by its largest American competitors, ChatGPT and Bard in the lead.