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Mistral AI in talks to raise USD 600 million at USD 6 billion valuation
Foundation Models
May 9, 2024
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Foundation Models

Foundation Models

May 9, 2024

Mistral AI in talks to raise USD 600 million at USD 6 billion valuation

Funding

  • Mistral AI, an open-source developer of foundation models, is reportedly in the process of raising funds at an estimated USD 6 billion valuation. This round is being pursued by several investors such as DST, General Catalyst, and Lightspeed Venture Partners, and anticipates raising close to USD 600 million.

  • This round, reportedly attracting significant inbound interest, has been in progress since March. Proceeds are planned to enhance Mistral's capabilities to compete against AI firms like OpenAI and Anthropic.

  • Analyst QuickTake: Despite being a young company, Mistral’s approach to open-source AI has pushed its valuation up from the USD 2 billion mark after its last round in December raising USD 415 million . It presently offers three LLM versions.

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