France’s Mistral AI is seeking funding at a valuation of $5 billion – Technology

French tech startup Mistral AI is seeking funding at a valuation of $5 billion, according to a report by The Information. The startup has been in talks with investors to raise several hundred million dollars, although the specific investors involved have not been disclosed.

Mistral AI’s current investors include big names like Andreessen Horowitz, Lightspeed Ventures, and Microsoft Corp, which recently invested $16 million in the company. Microsoft also partnered with Mistral to make its AI models available through the Azure cloud computing platform.

This partnership with Microsoft has raised concerns in the European Union, with lawmakers calling for an investigation into the perceived concentration of power by the tech giant.

Despite only recently starting to generate revenue, Mistral AI raised $415 million in December and was valued at 2 billion euros in a funding round the same month.

The startup’s ambitious funding goals and strategic partnerships with industry leaders like Microsoft highlight the growing importance of AI technology in the tech industry. As Mistral AI continues to expand and attract investment, it will be interesting to see how it navigates the competitive landscape of the AI market.