Mistral AI, accelerating advancements in artificial intelligence (AI) technology, has raised 385 million euros (415 million dollars) in funding. This funding will be used to enhance the company’s technology and its open-source software.
American venture capital firm Andreessen Horowitz and one of Mistral AI’s initial investors, Lightspeed Ventures, led the investment round on December 11. This follows the company’s previous funding round in early summer, where it raised 113 million dollars, and the company is now estimated to be worth approximately 2 billion dollars.
Mistral AI stands out by focusing on productive artificial intelligence tools, chatbot development, and customizable applications through its open-source technology. The company’s officials aim to offer their products to users at the beginning of 2024.
An important detail is that the company was founded in May by former executives of Google DeepMind and Meta. Arthur Mensch, the CEO of Mistral AI, commented on the latest funding round: “Since the inception of Mistral AI, we have been following a trajectory to create a European champion in the productive artificial intelligence field with an open, responsible, and decentralized approach to technology.”
European Union legal regulators reached a historic agreement on artificial intelligence requirements on Friday, December 8. The agreement covers many aspects of the AI sector, from the use of biometric surveillance by governments to transparency requirements for powerful AI models, such as ChatGPT, before entering the public market.