OpenAI Competitor Mistral AI Secures $414 Mln In Funding, Google & Microsoft Overshadowed?

The French artificial intelligence (AI) company Mistral AI recently orchestrated a sense of frenzy within the AI universe as it announced a phenomenal funding round on Monday. Succeeding the funding announcement, Mistral AI now positions itself among some of the top AI-related companies, such as Google and Microsoft-backed OpenAI.

Mistral AI is a Paris-based AI industry founded by former Meta and Google AI researchers. With the completion of its colossal funding round, the company is now forging ahead in its AI race with OpenAI, Google, and Microsoft, among many others.

A Closer Look Into The Funding Round

According to reports, Mistral AI concluded its funding round today, December 11. Furthermore, with the completion of its funding round, the AI entity raised a whopping €385 million worth $414.41 million as of writing.

Interestingly, the funding round witnessed participation from various key venture capitalists, such as Andreesen-Horowitz and LightSpeed Ventures. Although the company withheld its current valuation, an anonymous source shed light, proclaiming the present value of the company to be somewhere around $2 billion.

Furthermore, Mistral AI also launched Mistral 8x7B, a new AI model that is igniting immense curiosity within the AI landscape. In addition, what’s fascinating is that the firm unveils this model as a torrent link with a size close to 87 GB. Moreover, the first funding round for Mistral AI dates back to June this year.

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Will OpenAI, Google, and Microsoft be Overshadowed?

The recently unveiled AI model, Mistral 8x7B, appears to have piqued quite a lot of interest within the AI industry. The buzz orchestrated by the 8x7B model emerges as the model recently positioned itself as Europe’s counterpart to AI platforms, such as OpenAI’s ChatGPT and Google’s Bard, among many others.

Amid the heightened scrutiny faced by Microsoft’s OpenAI and Google’s Bard concerning the EU’s new AI law, which is still in legislative pipelines, Mistral AI appears to have gained substantial traction. Although the new model is currently available in its beta stages, a fully functioning model is expected to launch by early 2024.

What’s more is that with the conclusion of the aforestated funding round, accompanied by Mistral’s new AI model, the firm is now emerging as one of the top industries venturing into AI.

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