Mistral, a French artificial intelligence company backed by Microsoft (MSFT), is not for sale, according to its CEO, Arthur Mensch.
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Speaking on the sidelines of the World Economic Forum (WEF) in Davos, he told Bloomberg that the plan was to work towards an initial public offering, with the firm focused on growing its U.S. and European businesses. He also said Mistral will open an office in Singapore to target the Asia-Pacific region.
The company, which recently achieved a $6 billion valuation and backing from MSFT, is seen as a European competitor to OpenAI. Mensch said it has “plenty” of money right now.
Launched by former researchers at Google’s (GOOGL) DeepMind and Meta Platforms (META) just two years ago, the company has developed generative AI models, including one called Le Chat, which is similar to ChatGPT.
Mistral Sees Move Beyond AI Models to Agentic Approach
Doing the broadcast rounds in Davos, where AI is talk of the town, Mensch also spoke to CNBC about moving beyond AI models this year to a more “agentic” approach.
He talked about developers moving on from simple models to “systems” that integrate models and contextual business data.
“I think the focus should shift to systems,” Mensch told CNBC. “Models are a part of systems, but systems are connected to data, connected to tools, able to actually do things on your behalf, able to act in an agentic way.”
Agentic AI uses sophisticated reasoning and iterative planning to autonomously solve complex, multi-step problems, according to Nvidia (NVDA), which says it is “next frontier of artificial intelligence.”
Meanwhile, Mistral recently made a deal with Agence France-Presse to incorporate thousands of the newswire’s articles into the AI company’s chatbot, in an apparent pushback against moves to reduce fact-checking at social media companies.
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