The €21B European AI Escape

Published by AI & Machine Learning Desk with Ravenclip

Why are European companies flocking to an AI startup that is lagging behind its rivals? The answer lies in escaping US providers.

Read the full story Source: The Decoder

What the video says

Mistral AI, the startup that can't beat its rivals, just doubled its valuation. Samsung Electronics led their €3 billion Series D funding round.

This pushes their valuation to historic heights, up from €12 billion last year. Yet, their medium 3.5 model still trails Chinese open rivals like Qin.

But a massive surge in European customers trying to escape US providers pushed Mistral's valuation to €21 billion.

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