Mistral AI completes $640 million Series B financing round, led by General Catalyst

Mistral AI has completed a $640 million Series B financing round led by General Catalyst. Other investors include Belfius, Bessemer Venture Partners, BNP Paribas, Bpifrance, Cisco, Eurazeo, Headline, IBM, Korelya Capital, Latitude, Millennium New Horizons, Sanabil Investments, ServiceNow, SV Angel, Lightspeed Venture Partners, Andreessen Horowitz, Nvidia, Samsung Ventures, and Salesforce Ventures. Mistral AI, a competitor to companies like OpenAI and Anthropic, focuses on open-source licensing for open weights, releasing pre-trained and fine-tuned models.