Mistral seeks $1 billion funding at $10 billion valuation

French AI startup Mistral is reportedly in talks to raise $1 billion at a $10 billion valuation, with Abu Dhabi's MGX among potential investors. This funding would support the commercial rollout of Mistral's Le Chat chatbot and further development of its large language models, aiming to compete with global AI leaders. Mistral previously raised 600 million euros last year at a 5.8 billion euro valuation and is considered Europe's strongest AI contender.