Mistral AI is a French company specializing in artificial intelligence (AI) products. Founded in April 2023 by former employees of Meta Platforms and Google DeepMind,[1] the company has quickly risen to prominence in the AI sector.
In October 2023, Mistral AI raised €385 million.[4] By December 2023, it was valued at over $2 billion.[5][6][7]
In June 2024, Mistral AI announced a new funding round of €600 million ($645 million), significantly boosting its valuation to €5.8 billion ($6.2 billion).[8] This round was led by the venture capital firm General Catalyst, with participation from existing investors.[9]
Mistral AI has published three open-source models available as weights.[10] Additionally, three more models—Small, Medium, and Large—are available via API only.[11][12]
Based on valuation, the company is in fourth place in the global AI race and in first place outside the San Francisco Bay Area.[13] Mistral AI aims to "democratize" AI by focusing on open-source innovation.[14]