Following last week's rumours of French generative AI startup Mistral AI close to closing a fresh €450 million investment deal that would provide the company with a valuation of $2 billion, the company today confirmed the figure at €385 million. Mistral AI declined to cite a valuation.
Having made a splash on the scene with a €105 million Seed round investment, this Series A sees the company raising €490 million seven months since inception.
The €385 million round was led by Andreessen-Horowitz with LightSpeed Ventures, Salesforce, and Motier Ventures, the Parisian family office of the owners of the Galeries Lafayette Group participating.
In conjunction with the confirmation of a new investment round, Mistral AI launched its newest language model, Mixtral 8x7B, one that it says "sets a new bar for efficiency and performance", as well as opening beta access to the startup's first platform services.
Available in three varieties, tiny, small, and medium, these platform services give developers access to Mistral AI's generative text models, with each endpoint offering a different performance/price tradeoff.
Beta access registration is now open and the company says it plans to ramp up capacity in due course.
Lead image via Mistral AI.