Paris-based tech firm Mistral AI is nearing a large funding round that could potentially increase its valuation to $6 billion, potentially positioning it to challenge competitors such as OpenAI and Anthropic. It is seeking approximately $600 million in investment, mainly from existing sponsors General Catalyst and Lightspeed Venture Partners. The last funding round in December 2023 helped to raise about $415 million, significantly raising its valuation to $2 billion. Tech companies Nvidia and Salesforce have contributed convertible debt in the past, with Microsoft investing $16 million in late February. Mistral AI is focusing on the development of an open-source large language model, attracting significant investor interest. Its ongoing fundraising success signifies sustained investor interest in AI.
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