French artificial intelligence startup Mistral AI is finalizing a €2 billion investment that values the company at €12 billion ($14 billion), including the new funding — solidifying its position as one of Europe’s most valuable tech startups.
The rival to OpenAI is developing open-source language models, as well as a chatbot tailored to European users called Le Chat, and other AI services. It was founded in 2023 by Arthur Mensch, a former DeepMind researcher, and ex-Meta researchers Timothée Lacroix and Guillaume Lample.