Sources: Mistral AI raising at a $6B valuation, SoftBank 'not in' but DST is | TechCrunch

🌈 Abstract

The article discusses the recent fundraising activities of Mistral AI, a Paris-based startup working on open-source large language models (LLMs). Key points:

• Mistral AI has been raising money at a $6 billion valuation, three times its valuation in December, to compete against OpenAI and Anthropic.
• The funding round involves investors like DST, General Catalyst, and Lightspeed Venture Partners, but SoftBank is not part of the deal.
• Mistral AI is focused on an open-source approach to LLMs, and is one of the youngest players in the market, with a notable presence in the AI R&D hub of Paris.
• The rapid increase in Mistral AI's valuation reflects the heated market for AI startups, despite challenges faced by scaled-up, privately held tech companies.
• The article also discusses SoftBank's interest in the AI chip designer Graphcore, which has been facing challenges in a market dominated by Nvidia.

🙋 Q&A

[01] Mistral AI's Fundraising

1. What is the current valuation of Mistral AI, and how does it compare to its previous valuation?

• Mistral AI's current valuation is $6 billion, which is three times its valuation of $2 billion in December.

2. Who are the investors involved in Mistral AI's latest funding round?

• The investors involved include DST, General Catalyst, and Lightspeed Venture Partners.
• SoftBank is not part of the current deal, despite previous reports linking them to a Mistral investment.

3. What is Mistral AI's focus and positioning in the LLM market?

• Mistral AI is focused on an open-source approach to LLMs, in contrast to companies like OpenAI and Anthropic.
• It is one of the youngest players in the LLM market and is notable for being a major effort coming out of the AI R&D hub of Paris.

4. What factors are contributing to the rapid increase in Mistral AI's valuation?

• The rapid increase in valuation reflects the heated market for AI startups, despite the challenges faced by scaled-up, privately held tech companies.
• However, it's not clear how closely the investor interest is anchored to Mistral AI's current business performance versus future projections.

[02] SoftBank's AI Investments

1. What is SoftBank's interest in the AI chip designer Graphcore?

• SoftBank is looking at possibly buying the troubled UK-based AI chip designer Graphcore, which has been facing challenges in a market dominated by Nvidia.
• SoftBank has also been in talks with Graphcore about potentially investing in the company.

2. What is SoftBank's broader strategy in the AI chip market?

• SoftBank has been working on a $100 billion fund specifically for AI chips, indicating its interest in the broader AI chip market beyond just Graphcore.
• The article suggests that SoftBank has a "special place in its heart for chips," as it still owns a significant stake in Arm.