A trio of researchers created a new AI startup just two months ago.
In this short period of time it has already reached a valuation of $260 million.
Mistral AI,
a company established just a month ago and hailed as a potential rival to
OpenAI, the creators of ChatGPT, has just raised $113 million in seed funding.
The latest financing round has boosted the startup's valuation to $260 million.
The project is led by former Meta and Google DeepMind employees specializing in artificial intelligence (AI) research.
ChatGPT Competitor with
Roots in Facebook and Google
The goal of
creating Mistral AI was to develop open-source generative AI models. Arthur
Mensh, one of the project's co-creators and its current CEO, previously worked as
a research scientist for Google. The other two founders, Timothee Lacroix and
Guillaume Lample, developed AI solutions for Meta and Facebook.
According
to Mensh, the latest round of funding will provide the resources and
opportunities necessary to showcase a new generative AI model to the world. The
product is intended to combine scientific quality with an open-source approach,
delivering socially responsible technology to the end user.
"We
are proud to initiate this global project from France, our home country, and to
contribute, at our level, to the emergence of a credible new player in
generative artificial intelligence from Europe," Mensch commented on his
LinkedIn profile. "Over the coming months, we will be focusing all our
energy and passion on honoring the trust placed in us by our investors."
Lightspeed
Venture Partners led the funding round in collaboration with companies, such as
Motier Ventures and JCDecaux. The trio of founders is currently assembling a
team and plans to showcase the first models of Mistral AI next year.
"We
believe that Europe has a decisive role to play in the AI field," Antoine Moyroud, a Partner at Lightspeed, commented in a Medium post.
AI to Transform the FX/CFD
Industry
OpenAI, the
company behind ChatGPT, was established in 2015, but only in recent quarters
has it hit the headlines. The universally accessible language model showed how
artificial intelligence could change daily work, improve information searches and affect
numerous sectors of the economy. As it turns out, it also affects the
investment industry, including FX and CFDs.
The first
examples of this are already present. At the end of May, MetaQuotes, a provider
of the popular MetaTrader trading platforms, introduced an AI coding assistant.
A month earlier, Tiger Brokers, the trading brand of a leading online brokerage
firm focusing on Chinese investors UP Fintech Holding Limited, presented an
alternative to the artificial intelligence (AI) chatbot ChatGPT, dubbed
TigerGPT.
On top of that, artificial
intelligence is emerging in the cryptocurrency market. Bitget,
a crypto derivative and copy trading provider, has joined forces with Fetch.ai,
an artificial intelligence blockchain platform. Bitget has committed $10
million to support the growth of the Fetch.ai ecosystem.
Interest in
AI has led investors to increasingly bet on the shares of companies that can
benefit the most from the latest technology boom. Following the release of
ChatGPT in late November 2022, eToro, a social trading and investment platform,
experienced a surge in AI stock trading activity among traders, especially
those aged 55 and over. The growing interest in AI is perfectly
illustrated by the condition of Nvidia Corporation on Wall Street. Since the
beginning of the year, its shares have recorded an impressive increase of 180%.
According to many, it is one of the contenders to become a leader in the transformation
of technology towards artificial intelligence.
Mistral AI,
a company established just a month ago and hailed as a potential rival to
OpenAI, the creators of ChatGPT, has just raised $113 million in seed funding.
The latest financing round has boosted the startup's valuation to $260 million.
The project is led by former Meta and Google DeepMind employees specializing in artificial intelligence (AI) research.
ChatGPT Competitor with
Roots in Facebook and Google
The goal of
creating Mistral AI was to develop open-source generative AI models. Arthur
Mensh, one of the project's co-creators and its current CEO, previously worked as
a research scientist for Google. The other two founders, Timothee Lacroix and
Guillaume Lample, developed AI solutions for Meta and Facebook.
According
to Mensh, the latest round of funding will provide the resources and
opportunities necessary to showcase a new generative AI model to the world. The
product is intended to combine scientific quality with an open-source approach,
delivering socially responsible technology to the end user.
"We
are proud to initiate this global project from France, our home country, and to
contribute, at our level, to the emergence of a credible new player in
generative artificial intelligence from Europe," Mensch commented on his
LinkedIn profile. "Over the coming months, we will be focusing all our
energy and passion on honoring the trust placed in us by our investors."
Lightspeed
Venture Partners led the funding round in collaboration with companies, such as
Motier Ventures and JCDecaux. The trio of founders is currently assembling a
team and plans to showcase the first models of Mistral AI next year.
"We
believe that Europe has a decisive role to play in the AI field," Antoine Moyroud, a Partner at Lightspeed, commented in a Medium post.
AI to Transform the FX/CFD
Industry
OpenAI, the
company behind ChatGPT, was established in 2015, but only in recent quarters
has it hit the headlines. The universally accessible language model showed how
artificial intelligence could change daily work, improve information searches and affect
numerous sectors of the economy. As it turns out, it also affects the
investment industry, including FX and CFDs.
The first
examples of this are already present. At the end of May, MetaQuotes, a provider
of the popular MetaTrader trading platforms, introduced an AI coding assistant.
A month earlier, Tiger Brokers, the trading brand of a leading online brokerage
firm focusing on Chinese investors UP Fintech Holding Limited, presented an
alternative to the artificial intelligence (AI) chatbot ChatGPT, dubbed
TigerGPT.
On top of that, artificial
intelligence is emerging in the cryptocurrency market. Bitget,
a crypto derivative and copy trading provider, has joined forces with Fetch.ai,
an artificial intelligence blockchain platform. Bitget has committed $10
million to support the growth of the Fetch.ai ecosystem.
Interest in
AI has led investors to increasingly bet on the shares of companies that can
benefit the most from the latest technology boom. Following the release of
ChatGPT in late November 2022, eToro, a social trading and investment platform,
experienced a surge in AI stock trading activity among traders, especially
those aged 55 and over. The growing interest in AI is perfectly
illustrated by the condition of Nvidia Corporation on Wall Street. Since the
beginning of the year, its shares have recorded an impressive increase of 180%.
According to many, it is one of the contenders to become a leader in the transformation
of technology towards artificial intelligence.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
Click Here to Disrupt: Pay by Bank's Revolution in Online Payments
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
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▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
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Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
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🔔 Subscribe to our YouTube channel for more!🔔
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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🔔 Subscribe to our YouTube channel for more!🔔
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
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