Mistral, France’s OpenAI Rival, Closes €385 Million Round

Mistral AI, the Paris-based artificial intelligence startup, has raised €385 million ($415 million) that will go toward advancing its open-source software and to create a European rival to US tech giants.

The round was led by Silicon Valley venture capital firm Andreessen Horowitz and initial backer Lightspeed Ventures, the company said in a statement on Monday. The round values the company at about $2 billion, Bloomberg has reported.