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[1]
Mistral in talks with VC firms, MGX to raise funds at $10 billion valuation, FT reports
Aug 1 (Reuters) - French artificial intelligence startup Mistral is in talks with investors, venture capital firms and Abu Dhabi's MGX to raise $1 billion at a valuation of $10 billion, the Financial Times reported on Friday, citing people familiar with the matter. The company launched in June Europe's first AI reasoning model, which uses logical thinking to create a response, as it tries to keep pace with American and Chinese rivals at the forefront of AI development. The funding would accelerate the commercial rollout of Mistral's Le Chat chatbot and support continued development of its large language models, the report said. MGX and Mistral did not immediately respond to Reuters requests for comment. The startup raised 600 million euros in a Series B funding round that valued the company at 5.8 billion euros last year. Industry observers consider Mistral as Europe's best-positioned AI company to rival Silicon Valley leaders, though the French firm has yet to achieve comparable market traction or revenue scale. Mistral counts Nvidia (NVDA.O), opens new tab, Andreessen Horowitz and Lightspeed Venture Partners among its investors. Reporting by Akash Sriram in Bengaluru; Editing by Alan Barona Our Standards: The Thomson Reuters Trust Principles., opens new tab
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Mistral in talks with VC firms, MGX to raise funds at $10 billion valuation: Report - The Economic Times
The funding would accelerate the commercial rollout of Mistral's Le Chat chatbot and support continued development of its large language models. Mistral counts Nvidia, Andreessen Horowitz and Lightspeed Venture Partners among its investors.French artificial intelligence startup Mistral is in talks with investors, venture capital firms and Abu Dhabi's MGX to raise $1 billion at a valuation of $10 billion, the Financial Times reported on Friday, citing people familiar with the matter. The company launched in June Europe's first AI reasoning model, which uses logical thinking to create a response, as it tries to keep pace with American and Chinese rivals at the forefront of AI development. The funding would accelerate the commercial rollout of Mistral's Le Chat chatbot and support continued development of its large language models, the report said. MGX and Mistral did not immediately respond to Reuters requests for comment. The startup raised 600 million euros in a Series B funding round that valued the company at 5.8 billion euros last year. Industry observers consider Mistral as Europe's best-positioned AI company to rival Silicon Valley leaders, though the French firm has yet to achieve comparable market traction or revenue scale. Mistral counts Nvidia, Andreessen Horowitz and Lightspeed Venture Partners among its investors.
[3]
Mistral in talks with VC firms, MGX to raise funds at $10 billion valuation, FT reports
(Reuters) -French artificial intelligence startup Mistral is in talks with investors, venture capital firms and Abu Dhabi's MGX to raise $1 billion at a valuation of $10 billion, the Financial Times reported on Friday, citing people familiar with the matter. The company launched in June Europe's first AI reasoning model, which uses logical thinking to create a response, as it tries to keep pace with American and Chinese rivals at the forefront of AI development. The funding would accelerate the commercial rollout of Mistral's Le Chat chatbot and support continued development of its large language models, the report said. MGX and Mistral did not immediately respond to Reuters requests for comment. The startup raised 600 million euros in a Series B funding round that valued the company at 5.8 billion euros last year. Industry observers consider Mistral as Europe's best-positioned AI company to rival Silicon Valley leaders, though the French firm has yet to achieve comparable market traction or revenue scale. Mistral counts Nvidia, Andreessen Horowitz and Lightspeed Venture Partners among its investors. (Reporting by Akash Sriram in Bengaluru; Editing by Alan Barona)
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French AI startup Mistral is reportedly in discussions with investors, including Abu Dhabi's MGX, to raise $1 billion. The funding round could value the company at $10 billion, potentially accelerating its growth and development of AI models.
French artificial intelligence startup Mistral is reportedly in talks with investors, venture capital firms, and Abu Dhabi's MGX to raise a staggering $1 billion in funding. This potential investment round could value the company at an impressive $10 billion, according to sources familiar with the matter 1.
Source: Reuters
The substantial funding injection is expected to serve two primary purposes:
This move comes as Mistral aims to keep pace with American and Chinese rivals at the forefront of AI development 2.
In June, Mistral launched Europe's first AI reasoning model, which utilizes logical thinking to generate responses. This achievement has positioned the company as a potential rival to Silicon Valley leaders in the AI space. However, industry observers note that while Mistral is considered Europe's best-positioned AI company to compete with these tech giants, it has yet to achieve comparable market traction or revenue scale 3.
Source: Economic Times
The startup's rapid growth is evident from its previous funding round. Mistral raised 600 million euros in a Series B round last year, which valued the company at 5.8 billion euros. If the current talks materialize, it would represent a significant increase in the company's valuation in a relatively short period 1.
Mistral has already attracted investments from prominent players in the tech and venture capital world. Its current investor roster includes:
The potential addition of Abu Dhabi's MGX to this list could further strengthen Mistral's position in the global AI landscape 2.
This potential funding round for Mistral highlights the growing interest and investment in AI companies outside of traditional tech hubs. It also underscores the competitive nature of the AI industry, with companies racing to develop and commercialize advanced language models and AI applications.
As of now, both MGX and Mistral have not responded to requests for comment on the reported funding talks. The outcome of these discussions could have significant implications for the European AI ecosystem and the global AI competitive landscape 3.
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