Mistral AI raises €2 billion. The company’s valuation reached $14 billion

Mistral AI raises €2 billion. The company’s valuation reached $14 billion

Mistral AI, a French startup specializing in the development of open language models and the Le Chat chatbot, completes a €2 billion funding round that raised the company’s valuation to €12 billion ($14 billion).

This makes Mistral one of the most expensive tech startups in Europe.

The company was founded in 2023 by Arthur Mensch (a former DeepMind researcher) together with former Meta employees Timothée Lacroix and Guillaume Lampl.

• Since its inception, Mistral has already raised over €1 billion from global investors, including Andreessen Horowitz, General Catalyst, Lightspeed Venture Partners, Bpifrance, and BNP Paribas.

• This round is the first since June 2024, when the company was valued at €5.8 billion.

• The new funds can be used to develop a data center in France, as well as the Mistral Compute cloud service, which the startup is developing together with Nvidia.

The funding comes amid growing competition in the AI space.

Earlier this year, OpenAI and Anthropic also announced multibillion-dollar investment rounds. The latter recently raised $13 billion and reached a valuation of $183 billion.

Read more: Anthropic will allow users to decide whether their data can be used to train AI