France's Mistral AI has raised 600 million euros ($643.7 million) in a funding round led by existing investor General Catalyst, it said on Tuesday, as AI continues to draw the bulk of technology-focused venture capital funds.The Series-B funding round valued the one-year-old company at 5.
FILE PHOTO: AI letters are placed on computer motherboard in this illustration taken, June 23, 2023. REUTERS/Dado Ruvic/Illustration/File PhotoFrance's Mistral AI has raised 600 million euros in a funding round led by existing investor General Catalyst, it said on Tuesday, as AI continues to draw the bulk of technology-focused venture capital funds.
"This new round puts us in a unique position to push the frontier of AI and bring state-of-the-art technology to everyone's hands," co-founder and CEO Arthur Mensch said. The runaway success of OpenAI's ChatGPT following its launch in late 2021 has turned the spotlight on large language models , a technology that underpins generative artificial intelligence products.
In February, Microsoft invested $16 million in Mistral as part of a partnership to make the company's AI models available through its Azure cloud computing platform.
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