Mistral AI Raises $415 Million in Funding, Valued at $2 Billion

Paris-based startup Mistral AI has closed its Series A funding round, raising €385 million ($415 million) and valuing the company at approximately $2 billion. The company, which aims to be a European rival to OpenAI, is focused on developing foundational models with an open technology approach. Mistral AI has also released its developer platform in beta, allowing other companies to pay to use its models via APIs. The platform includes the Mistral 7B and Mixtral 8x7B models, with the latter using a router network to process input tokens more efficiently. Mistral AI's best model, Mistral-medium, is only accessible through the paid API platform.