French artificial intelligence company Mistral, which is partially backed by Microsoft (NASDAQ:MSFT), is in final talks to raise €2B that would value it at €12B, Bloomberg reported.
The company, which was founded in 2023, is working on an open-source language model and chatbot (similar to ChatGPT and others) known as Le Chat.
Mistral was previously in talks to raise more than $1B from investors, including Abu Dhabi’s MGX investment fund.
Mistral did not immediately respond to a request for comment from Seeking Alpha.
In May, G42 and Mistral AI announced a partnership to co-develop next-generation AI platforms and infrastructure. One month later, Mistral partnered with Nvidia (NVDA) to create Mistral Compute, which provides customers with their own private and integrated stack, which includes GPUs, orchestration, APIs, products and services.
