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action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/scienrds/scienceandnerds/wp-includes/functions.php on line 6114Source:https:\/\/techcrunch.com\/2023\/06\/13\/frances-mistral-ai-blows-in-with-a-113m-seed-round-at-a-260m-valuation-to-take-on-openai\/<\/a><\/br> AI is well and truly off to the races: a startup that is only four weeks old has picked up a $113 million round of seed funding to compete against OpenAI in the building, training and application of large language models and generative AI.<\/p>\n Mistral AI<\/a>, based out of Paris, is co-founded by alums from Google\u2019s DeepMind and Meta and will be focusing on open source solutions and targeting enterprises to create what CEO Arthur Mensch believes is currently the biggest challenge in the field: \u201cTo make AI useful.\u201d It plans to release its first models for text-based generative AI in 2024.<\/p>\n Lightspeed Venture Partners is leading this round, with Xavier Niel, JCDecaux Holding, Rodolphe Saad\u00e9 and Motier Ventures in France, La Famiglia and Headline in Germany, Exor Ventures in Italy and Sofina in Belgium, First Minute Capital and LocalGlobe in the UK all also participating.<\/p>\n Mistral AI notes that French investment bank Bpifrance and former Google CEO Eric Schmidt are also shareholders. Sources close to the company confirm that the \u20ac105 million in funding ($113M at today\u2019s rates) values Mistral AI \u20ac240 million ($260 million). To note, this is the same number that was being rumored about a month ago in the French press<\/a> when people started chattering about the company.<\/p>\n
\nFrance\u2019s Mistral AI blows in with a $113M seed round at a $260M valuation to take on OpenAI<\/br>
\n2023-06-13 21:43:16<\/br><\/p>\n