French AI startup Mistral is reportedly in advanced discussions with investors, including Abu Dhabi’s MGX, to raise $1bn at a $10bn valuation. The funding would nearly double Mistral’s worth from last year.
The new capital is expected to accelerate the commercial rollout of Mistral’s Le Chat chatbot and support the ongoing development of its large language models. Founded to challenge US dominance in the AI sector, Mistral has rapidly emerged as one of Europe’s most valuable tech companies.
The potential MGX deal reflects growing Gulf investment in AI innovation, aligning with Abu Dhabi’s strategy to build a global centre for advanced technologies.
Gulf Economist Staff Writer