€600 Million Raised At Nearly €6 Billion Valuation #unicorn

Few-shot tool-use doesn’t really work (yet)

Paris-based Mistral AI, a generative AI service for developers and businesses, has raised €600 million in a Series B funding round led by General Catalyst. The company now has a valuation of €6 billion and has raised a total of €1.1 billion. Mistral’s open-source models, under the Apache 2.0 license, are customizable and usable for various use cases. The company aims to make frontier AI accessible to all builders by providing tailor-made AI solutions. Mistral’s models can automate text generation and processing, build internal assistants, empower developers with coding assistance, and tailor applications to specific customer bases. With the funding, Mistral plans to accelerate its AI work and strengthen its position in the industry. Microsoft Azure is a distribution partner of Mistral, and Microsoft is a minor shareholder in the company. The funding round includes investors like Lightspeed, Andreessen Horowitz, Bpifrance, BNP Paribas, Nvidia, Salesforce, Samsung, and IBM. Mistral’s focus on open, portable, and customizable solutions sets it apart in the AI industry, allowing for the rapid deployment of advanced technology.

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