OpenAI rival Mistral has resumed conversations with potential investors about raising $533 million, a funding that will push its valuation to $5.3 billion.
Mistral Seek to Double its Valuation
Securing this fund will help the French-based Artificial Intelligence (AI) firm double its valuation from its current level. Noteworthy, the company generated $415 million at a valuation of a valuation of $2 billion in December 2023. The funding round enjoyed participation from key venture capitalists like Andreessen Horowitz (a16z) and LightSpeed Ventures.
At the time, the $2 billion valuation caused Mistral to rank amongst some of the top AI-related companies, such as Google and Microsoft-backed OpenAI. This new potential funding would likely bring the competition closer than it was before now. The names of investors that Mistral is currently engaging are yet to be disclosed to the public according to the Financial Times.
While these investors are yet to fully commit themselves to Mistral’s
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