French OpenAI rival Mistral’s valuation is rising at a breathtaking pace. According to the news site ‘The Information’, the artificial intelligence (AI) specialist wants to raise several hundred million dollars in fresh capital and is aiming for a valuation of five billion dollars (4.7 billion euros).
It is unclear with which investors Mistral has spoken about a new capital injection, writes ‘The Information’, citing insiders.
The company was not immediately available for comment. About a month ago, the company was valued at more than $2 billion in a media report about a possible entry by Japanese technology investor Softbank Mistral.
Microsoft is also interested
The startup is developing the AI ’Mixtral 8x7B’, which is intended to compete with OpenAI’s ChatGPT or Google’s ‘Gemini’. A few weeks ago, the software company Microsoft, which already works closely with OpenAI, announced a partnership with the French company.
The European Union wants to take a closer look at this deal. Mistral also works with Alphabet subsidiary Google. Together with Aleph Alpha from Germany, the company is considered a promising European provider of generative AI.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
