A new player in the generative artificial intelligence (AI) market, Mistral AI, has raised $113 million in seed funding just a month after its launch. Led by former Facebook and Google experts, the project seeks to develop open-source generative AI models, with the new funds boosting its valuation to $260 million. The team endeavours to combine quality science with open-source design to provide socially responsible technology. Lightspeed Venture Partners led the funding round, with Motier Ventures and JCDecaux also collaborating. Mistral AI plans to showcase its first models next year, assembled by a yet-to-be-formed team.
Ex-Facebook and Google experts team up to develop ChatGPT’s rival costing $260.
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