Reports indicate that Mistral AI, a French artificial intelligence (AI) startup, has secured \(415 million in a recent funding round. The valuation of the company, founded by former Google and Meta researchers, is estimated at approximately \)2 billion, as per The New York Times.
Specializing in open-source software for chatbots and relational AI tools, Mistral AI has quickly gained recognition in the Western AI business sector. Leveraging the expertise of its founders in developing large language models akin to those of OpenAI, the company made headlines with its $113 million seed funding round, marking the largest ever recorded in Europe.
In a strategic move, Mistral introduced its latest innovation, Mistral 7B, a compact design boasting 7 billion parameters, offered at no cost to designers. Embracing the ethos of open-source technology, Mistral joins the ranks of AI companies advocating for shared source code to enhance functionality and design collaboratively.
The recent funding development coincides with the European Union’s landmark AI Act, which sets guidelines for technology governance while granting flexibility to businesses offering open-source models, including Meta. The establishment of the AI Alliance, spearheaded by Meta and IBM and supported by industry giants like NASA, Oracle, CERN, Intel, and the Linux Foundation, underscores the growing momentum towards collaborative AI development.
Nick Clegg, Meta’s global politics chief, emphasized the importance of bold AI advancements, emphasizing broader access to benefits, innovation, and safety measures. The AI Alliance’s mission, distinct from traditional business agendas, focuses on fostering responsible AI practices and addressing global concerns surrounding AI ethics and deployment.
As highlighted in the report, the emergence of the AI Alliance signifies a shift in the AI landscape, transcending market competition to encompass broader societal and ethical considerations. Notably, the inclusive nature of the Alliance contrasts with the exclusivity observed in certain AI circles, reflecting a broader dialogue on the ethical use and proliferation of AI technologies.
