Mistral AI has secured €600 million ($640 million) in equity and debt financing, valuing the company at $6 billion, according to TechCrunch.
The Series B funding round was led by General Catalys with participation from Lightspeed Venture Partners, Andreessen Horowitz, Nvidia, Samsung Venture Investment Corporation, Salesforce Venture, among others.
According to the Financial Times, Mistral AI raised €468 million ($500 million) in equity and €132 million ($140 million) in debt.
The company was founded about a year ago by former employees of Google DeepMind and Meta. It focuses on open-source large language models and positions itself as a competitor to OpenAI, Anthropic, and others.
Mistral AI initially raised €105 million ($113 million), and in December 2023, it secured an additional €385 million ($415 million) at a valuation three times lower than the current one. In February 2024, Microsoft announced a long-term partnership with the company, investing $2.1 billion.
“I am pleased to see new and existing investors renewing their trust in our business and providing new support for its expansion. The new round gives us a unique opportunity to push the boundaries of AI and deliver cutting-edge technology to everyone,” said Mistral AI co-founder and CEO Arthur Mensch.
In late May, Mistral AI released Codestral, an AI model for code generation.
Earlier, the platform for creating generative AI applications, Amazon Bedrock, integrated the Mistral Large language model.