Founded by Facebook AI researchers, Mistral AI focuses on developing open-source generative AI models to "make AI useful." It emerged in early 2023, quickly achieving a $260 million valuation.
Mistral features up to 176 billion parameters, and its open-source nature has sparked concerns about potential misuse. However, Mistral remains a formidable competitor in the AI landscape, challenging models from Google and Meta.
In 2025, Mistral secured a massive €1.7 billion funding round, raising its valuation to €11.7 billion. This Series B funding, led by European chip firm ASML, underscores significant interest in alternatives to ChatGPT and a push away from Silicon Valley dependence by European AI competitors.
Freddie
Company Specialist at Welcome to the Jungle