TECH - Microsoft-Backed Mistral AI Sees Valuation Spike To $6B After Securing $645M Funding | Benzinga
Mistral AI, a French tech startup backed by Microsoft, has raised $645 million in a funding round, bringing its valuation to $6 billion.
What Happened: The funding round was led by venture capital firm General Catalyst and included contributions from existing investors, CNBC reported on Wednesday. Mistral AI, which is just over a year old, is aiming to compete with OpenAI and establish itself as a leading AI company in Europe.
The startup focuses on developing large language models (LLMs) that power applications like chatbots, similar to ChatGPT. These projects require significant investment in infrastructure, including purchasing semiconductors from Nvidia.
Last year, Mistral AI raised 105 million euros ($113 ...