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French artificial intelligence laboratory, Mistralco-founder and CEO Arthur Mensch is working on an initial public offering said in an interview with Bloomberg on Tuesday At the World Economic Forum held in Davos.
Mistral is “not for sale,” Mensch said, adding that the company plans to open an office in Singapore to focus on the Asia-Pacific region and grow in Europe and the U.S. “Certainly, (the IPO) is the plan.”
Mistral, which Mensch launched in 2023 with former researchers from Google’s DeepMind and Meta, is often described as Europe’s answer to US incumbents like OpenAI. The lab releases AI models and services that compete with offerings from OpenAI and others, including a ChatGPT-like platform called Le Chat.
Mistral has raised approximately $1.14 billion in capital to date from investors including Andreessen Horowitz, General Catalyst and Lightspeed Venture Partners. The company is said to be the last is evaluated It is close to 6 billion dollars.
