Paris-based AI startup Mistral AI is gradually building an alternative to OpenAI and Anthropic as its latest announcement shows. The company is launching a new flagship large language model called Mistral Large. When it comes to reasoning capabilities, it is designed to rival other top-tier models, such as GPT-4 and Claude 2. In addition to Mistral Large, the startup is also launching its own alternative to ChatGPT with a new service called Le Chat. This chat assistant is currently available in beta. If you’re not familiar with Mistral AI, the company is better known for its capitalization table as it raised an obscene amount of money in very little time to develop foundational AI models. The company was officially incorporated in May 2023. Just a few weeks after that, Mistral AI raised a $112 million seed round. In December, the company closed a $415 million funding round with Andreessen Horowitz (a16z) leading the round. Founded by alums from Google’s DeepMind and Meta, Mistral AI originally positioned itself as an AI company with an open-source focus. While Mistral AI’s first model was released under an open-source license with access to model weights, that’s not the case for its larger models. Mistral AI’s business model looks more and more like OpenAI’s business model as the company offers Mistral Large through a paid API with usage-based pricing. It currently costs $8 per million of input tokens and $24 per million of output tokens to query Mistral Large.
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