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French AI startup Mistral AI has successfully raised €385 million ($415 million) in its latest funding round. The funds will be used to further develop its technology and open-source software. The round was led by Andreessen Horowitz and Lightspeed Ventures, with participation from other investors including Salesforce Inc., Bpifrance, and Eric Schmidt.
Mistral AI, founded by former leads at Google’s DeepMind and Meta, focuses on open-source technology for generative AI tools, chatbot development, and customizable features. The company aims to make its products available to the general public in early 2024. With a current valuation of around $2 billion, Mistral AI is on a mission to become a global leader in generative artificial intelligence.
Meanwhile, the European Union has reached a significant agreement on AI requirements. The agreement covers various aspects of AI, including governmental use for biometric surveillance, regulation of powerful AI models like ChatGPT, and transparency requirements before entering the public market. It also addresses areas that intersect with other EU legislation, such as copyright matters and training methodologies.
Overall, Mistral AI’s latest funding round and the EU’s agreement on AI requirements highlight the growing importance and investment in the field of artificial intelligence. As Mistral AI continues to develop its technology and expand its reach, it aims to establish itself as a European champion with a global impact in the AI industry.