Mistral, a tiny AI startup that aims to be Europe's answer to OpenAI, is in discussions to raise a major round of funding that could push its valuation above $2 billion.
Its cofounders are in talks with venture capital firm Andreessen Horowitz to raise further funds, seven sources familiar with proceedings told Insider.
Mistral is set to raise around $400 million at a valuation of at least $2 billion, which could rise to as high as $2.5 billion, three sources said.
The deal is not yet finalized and the round size, valuation figures, and participants could still change.
Andreessen Horowitz, General Catalyst, Mistral, Abstract Ventures, and Bezos Expeditions did not respond to Insider's request for comment.
Persons:
Andreessen Horowitz, Catalyst, Arthur Mensch, Guillaume Lample, Timothée Lacroix, Jeff Bezos, Xavier Niel
Organizations:
Mistral, Meta, DeepMind, Bezos Expeditions, Amazon, Catalyst, Ventures, Lightspeed Venture Partners
Locations:
Paris