Mistral AI is reportedly looking to raise funds at a $6B valuation

A report by the Wall Street Journal has picked up steam after stating that Paris-based Mistral AI plans to secure up to $600 million at a $6 billion valuation, which would mean its value has tripled since its last funding round in December 2023, which placed the company at a $2 billion valuation. It also means that Mistral's valuation has increased since reports of the funding round first arose in April when Reuters (following The Information) disclosed that Mistral was looking for investments at a $5 billion valuation. The same reports that place Mistral's valuation at $6 billion have shared that DST (the well-known tech investor behind Facebook, Twitter, Snapchat, Spotify, WhatsApp, Alibaba, and ByteDance), and existing investors General Catalyst and Lightspeed Venture Partners are all interested in participating in the funding round.

Although some reports linked SoftBank to the investment, the firm does not seem interested in participating in the current funding round. (SoftBank group remains interested in AI investments, as demonstrated by its recent participation in Wayve's Series C.) Mistral AI counts 36 investors, including its Series A leader Andreessen Horowitz, Redpoint, Headline, New Wave, Emerson Collective, and French finance giants Bpifrance and BNP Paribas. Since its last funding round, Mistral has secured strategic partnerships with industry giants including Databricks, NVIDIA, and Microsoft. The latter sparked some controversy after lawmakers in the European Union demanded an investigation into the nature of Microsoft's partnership with Mistral to ensure that the tech giant wasn't violating the EU competition laws.