News Summary

• Mistral frames itself as the antidote: a Europe-based alternative to the American labs.
• Unlike the leading American labs, Mistral has shifted its focus toward smaller, bespoke models for manufacturing, utilities, and financial services.
• It has also developed a cloud business through which customers can access its models, and a Palantir-style team of engineers who embed within client organizations.
• Mistral raised almost $2 billion at a $13.5 billion valuation; it's reportedly teeing up another raise that will bump that figure to $23 billion.