French AI darling Mistral reportedly almost triples valuation to €5.8B

France’s (and Europe’s) GenAI darling Mistral has reportedly almost tripled its valuation, reaching €5.8bn. First reported by Sifted and later confirmed by the Financial Times, the Paris-based startup has raised a €468mn equity funding round, led by DST global and existing investor General Catalyst. An additional €132mn in debt financing brings the total funding to €600mn. Mistral launched just a little over a year ago, but it has risen to prominence at an impressive rate. Its open-source and optimised multilingual large language models (LLMs), which target developers, have quickly rendered it the European challenger to OpenAI. The startup’s potential attracted strong…

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