French AI Startup Mistral Seeks $1 Billion Investment to Expand Globally

French AI startup Mistral is in discussions to secure up to $1 billion in funding, which could boost its valuation to $10 billion, sources say. The company is engaging with multiple investors and venture capital firms, including Abu Dhabi's MGX, to support its expansion efforts. This financial backing will allow Mistral to enhance its large language models and expedite the deployment of its latest product, the Le Chat chatbot. Founded in June, Mistral gained recognition in Europe by launching its groundbreaking AI reasoning model, the first of its kind on the continent. Unlike traditional AI systems, this model employs logical thinking to generate responses, distinguishing it from American and Chinese competitors dominating the market. Mistral's strategic move into AI signifies its ambition to compete with industry giants like OpenAI and Google. The potential funding is vital for Mistral's growth plans and ongoing research into more advanced AI technologies. Following a successful Series B funding round last year, which raised 600 million euros and valued the company at 5.8 billion euros, Mistral is seeking additional capital to strengthen its position in the fast-evolving AI sec...