News Summary

• Mistral AI is one of France’s most promising tech startups and is arguably the only European company that could compete with OpenAI.
• Its chat assistant, Le Chat, reached 1 million downloads in the two weeks following its mobile release.
• Mistral AI has raised significant amounts of funding since its creation in 2023 with the ambition to “put frontier AI in the hands of everyone” The company monetizes its premier models through APIs with usage-based pricing, and the company likely also generates a significant share of its revenue from its strategic partnerships.