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French AI startup Mistral is in talks to boost as much as $1 billion in fairness from buyers together with Abu Dhabi’s MGX fund, stories Bloomberg, citing individuals accustomed to the matter.
Mistral can also be speaking to French lenders like Bpifrance SACA to boost a whole bunch of thousands and thousands of euros in debt, per Bloomberg. Trendster has reached out to Mistral for remark.
Mistral, makers of the Le Chat chatbot, is likely one of the most vital gamers within the European AI panorama with a deal with open-weight LLMs. The startup has raised $1.19 billion so far at a $6.51 billion post-money valuation, in accordance with PitchBook. Its final fundraise was a Sequence B in June 2024.
Mistral is already working with MGX – a government-backed $100 billion AI fund – and Nvidia to construct Europe’s largest AI information heart campus. The UAE has additionally dedicated to spending €50 billion on AI initiatives in France, a part of French President Emmanuel Macron’s push for AI sovereignty.
