Mistral AI, the French AI start-up, is reportedly aiming for a $10 billion valuation in its latest fundraising efforts. This move is designed to bolster its competitive position against well-funded US and Chinese rivals.
Mistral AI has already secured substantial funding, including a $643 million round that boosted its valuation to $6 billion. Previous funding rounds include a $415 million investment that valued the company at $2 billion. The company's valuation has seen rapid growth, with earlier investments from Microsoft and Databricks to support product partnerships centred around Mistral's LLMs.
The company's open-source LLM, Mixtral 8x22B, uses a mixture-of-experts architecture, enhancing performance and reducing hardware usage. This approach allows the model to route requests to the most suitable neural network, optimising resource allocation.
