French artificial intelligence start-up Mistral is in talks to raise €500mn in a deal that would more than double its valuation to at least €5bn, following proposals from multiple investors seeking to invest in the one-year-old company.
Mistral’s three founders, led by chief executive Arthur Mensch, are considering their options just four months after raising about €400mn in a round that valued the start-up at €2bn.
Venture capital and sovereign wealth funds are among those eager to back the Paris-based company, seen as Europe’s best chance of taking on Silicon Valley groups OpenAI and Anthropic, according to multiple people close to the talks.
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