Microsoft-backed Mistral AI sets $6bn valuation in new funding round

Mistral AI, a Microsoft-backed French tech startup that’s developing new large-language models (LLM), has raised 600 million euros ($645 million) in a new funding round that has valued the company in excess of $6 billion.

The funding round was led by venture capital firm General Catalyst and included contributions from existing investors.

Mistral was founded just over a year ago, and it is moving rapidly to make new AI systems to rival OpenAI’s ChatGPT, Google Gemini and other leading AI platforms.

In its Mistral’s initial seed round last year the company raised €105 million euros.