OpenAI Rival Mistral Nears $2 Billion Valuation With Andreessen Horowitz Backing
- French AI startup is set to raise about €450 million in round
- Adviser Cedric O is among insiders set to sell partial stakes
WATCH: Mistral AI is said to be in the final stages of raising almost $500 million from investors including Nvidia and Salesforce. Lizette Chapman reports.
Source: BloombergMistral AI is in the final stages of raising roughly €450 million ($487 million) from investors including Nvidia Corp. and Salesforce Inc. in a funding round that values the OpenAI rival at about $2 billion, according to people familiar with the deal.
The deal includes more than €325 million in equity from investors led by Andreessen Horowitz, which is in talks to invest €200 million in funding, the people said, asking not to be identified because the discussions are private. Nvidia and Salesforce agreed to contribute another €120 million in convertible debt, they said. Some of the details are in flux and may still change, the people said.