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Mistral AI Raises $640 Million in Series B Round Led by General Catalyst

AI firm Mistral AI, located in Paris, has raised $640 million. With a combination of equity and debt, Mistral AI has successfully completed its much-rumored Series B investment round, which resulted in the company raising €600 million (about $640 million at the current exchange rate). The round was led by General Catalyst. Following the completion of this investment round, the business has obtained a valuation of $6 billion, as was previously reported by TechCrunch.

An important point to remember is that Mistral AI is a relatively new player in the field of artificial intelligence. A seed round of one hundred and twelve million dollars was raised by the company approximately one year ago in order to establish a European competitor to OpenAI, Anthropic, and other AI heavyweights.

The business, co-founded by former employees of Meta and DeepMind at Google, is involved in the development of fundamental models to compete with the likes of OpenAI's GPT-4o, Anthropic's Claude 3, and Meta's Llama 3.

Pre-trained and fine-tuned models have also been made available by Mistral AI, including proprietary models such as Mistral Large that will soon be available as API-first products. The company's conversation assistant, Le conversation, is now available at no cost to users, with distribution partnerships established with a number of cloud service providers, including Microsoft Azure. Microsoft is also a minority investor in Mistral AI.