Mistral reportedly seeking $3.5B funding round amid physics AI push
French foundation model developer Mistral AI SAS is reportedly in talks to raise €3 billion, or about $3.5 billion, from investors.
Bloomberg today cited sources as saying that the round could value the company at €20 billion. That’s nearly double the valuation it received after its most recent raise in September. The €1.7 billion investment was led by ASML Holdings NV, the world’s top maker of advanced lithography machines.
Today’s report didn’t specify the investors who could participate in Mistral’s new raise. ASML might chip in given that late-stage funding rounds often include contributions from existing backers. Mistral’s investor roster also includes Nvidia Corp., Salesforce Ventures and several prominent venture capital firms.
The report that the company is raising new capital comes shortly after it announced plans to develop artificial intelligence products for industrial engineers. The product lineup will include, among other things, custom AI models. Mistral may be planning to use the new funding to support the development effort.
