In a Series B round, Mistral AI, a firm that was established in April 2023 by individuals who had previously worked with Meta and Google’s DeepMind, has successfully raised a total of $502 million in stock and $141 million in debt.

A number of significant investors, including General Catalyst and Lightspeed Venture Partners, participated in the round. A number of models have been made available under an open-source license by Mistral AI, which has the intention of developing models that are competitive with GPT-4, Claude 3, and Llama 3.

The company also provides a free chat helper known as Le Chat, as well as a coding model known as Codestral, which comes with a license that is limited.

Through a founding round that was managed by Lightspeed Venture Partners, Mistral AI was able to raise a total of $113 million in June of 2023. Jean-Noel Barrot, a former minister of France, heaped admiration on the accomplishments of Mistral AI.

There is a positive outlook among investors about artificial intelligence (AI) businesses such as Mistral AI, with 67% of respondents anticipating an increase in AI investments during the next three years.

Businesses, on the other hand, are cognizant of potential dangers such as data privacy, bias, infringement of intellectual property, and erroneous outputs.

The experts at KPMG believe that blockchain technology has the potential to mitigate these risks by offering a safe method of tracking and managing intellectual property, ensuring that proper attribution and royalties are paid for content that is reused, and storing intellectual property on a blockchain.