'OpenAI Rival Mistral Nears $2B 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' - Bloomberg News
Portfolio Pulse from Benzinga Newsdesk
Mistral AI, a competitor to OpenAI, is close to securing approximately €450 million in funding, valuing the company at around $2 billion. The funding round includes major contributions from Nvidia Corp. and Salesforce Inc., with Andreessen Horowitz leading the equity investment. The round consists of over €325 million in equity and €120 million in convertible debt. Some insiders, including adviser Cedric O, are expected to sell parts of their stakes.
December 04, 2023 | 8:02 pm
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Salesforce Inc. is contributing to Mistral AI's funding round with €120 million in convertible debt, supporting the AI startup's growth and increasing its valuation to $2 billion.
Salesforce's investment in Mistral AI indicates a strategic interest in the AI space, which could enhance its product offerings and market position. This may have a positive short-term impact on Salesforce's stock.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Nvidia Corp. is participating in a funding round for Mistral AI with a contribution of €120 million in convertible debt, as the AI startup approaches a $2 billion valuation.
Nvidia's investment in Mistral AI could signal confidence in the AI sector and potentially lead to future collaborations or technology integrations, which may positively influence Nvidia's stock in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70