May 21, 2024

Report – French OpenAI rival Mistral valued at $5 billion

BANGALORE (Reuters) – The valuation of OpenAI's French rival, Mistral, is rising at a dizzying pace.

According to news website The Information, the AI ​​specialist wants to raise several hundred million dollars in new capital and aims to value the company at $5 billion. It is not clear which investors Mistral spoke to about injecting new capital, Al-Information wrote, citing informed sources. The company could not immediately be reached for comment. About a month ago, the company was valued at more than $2 billion in a media report about the possible entry of Japanese technology investor SoftBank Mistral.

The startup is developing “Mixtral 8x7B” AI, which aims to compete with OpenAI's ChatGPT or Google's “Gemini.” A few weeks ago, software company Microsoft, which already works closely with OpenAI, announced a partnership with the French company. The European Union wants to take a closer look at this deal. Mistral also cooperates with Alphabet's Google subsidiary. The company, along with Aleph Alpha from Germany, is a promising European provider of generative AI.

(Reporting by Angela Christie; Writing by Hakan Ersen; Editing by Mireya Mildenberger. If you have any questions, please contact our editorial team at [email protected] (for politics and economics) or [email protected] (for business and markets) )

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