Widely touted as the European rival to OpenAI, Mistral develops mostly free-of-charge open-source AI models. The two-year-old startup is valued at $6.51 billion per PitchBook, with $1.1 billion in venture capital from the likes of a16z, General Catalyst, Microsoft and Nvidia. In February, Mistral launched a new version of its AI assistant Le Chat, which it claims cranks out responses up to around 1,000 words per second, potentially making it 10 times faster than OpenAI’s GPT-4o, Anthropic’s Claude Sonnet 3.5 and DeepSeek R1.
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