A new artificial intelligence (AI) startup and rival of the creator of ChatGPT, OpenAI, raised $113 million in seed fundingbringing its valuation to $260 million just two months after its launch.
Former AI researchers—formerly working for Google DeepMind and Meta—co-founded Mistral AI in May 2023 to develop open source generative AI models. Arthur Mensch, co-founder and CEO of the company, said that the first round of funding “will give us the resources and network we need to start implementing a new model of generative artificial intelligence.”
Before co-founding Mistral AI, Mensch was a Research Scientist at Google Deep Mind. The other two co-founders, Timothee Lacroix and Guillaume Lample, worked at Facebook AI as a research engineer and research scientist, respectively.
The round The financing has been led by Lightspeed Venture Partners, with the participation of JCDecaux, Rodolphe Saadé and Motier Ventures, among others. The trio will run the company from Paris and plan to launch their first text-based generative AI models in 2024..
The company is looking for AI researchers, software engineers, and product developers.. At the time of writing these lines, the newly created Mistral AI also had no social media presence.
Recently, Sam Altman, CEO of OpenAI, met with the President of South KoreaYoon Suk Yeol, and urged the country to lead the manufacturing of chips needed for AI technology.
OpenAI currently uses chips from Taiwan, but Altman revealed the likely need for an alternative supply of chips from South Korea in the future.
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