financetom
Business
financetom
/
Business
/
EU's Vestager meets French tech firm Mistral AI amid competition concerns
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
EU's Vestager meets French tech firm Mistral AI amid competition concerns
Apr 26, 2024 8:23 AM

BRUSSELS, April 26 (Reuters) - European Union antitrust

chief Margrethe Vestager, who has been looking into Big Tech's

partnerships with AI start-ups, met on Friday fast-growing

French start-up company Mistral AI and said the sector needs

more competition.

In February, Microsoft ( MSFT ) invested $16 million in

Mistral AI and partnered with them to make its artificial

intelligence models available through its Azure platform. It has

also invested in ChatGPT owner OpenAI.

Other high-profile AI partnerships include Amazon ( AMZN )

and Google's investments in Anthropic, triggering

regulatory concerns that tech giants may once again dominate in

this developing field as they have in other more traditional

areas.

"If we act early on, we can avoid that the #AI market gets

dominated by a few large players, like we saw happening with

#digital #platforms. We need vibrant #competition in AI, now,"

Vestager wrote on her X account.

"Good meeting with @MistralAI today," added Vestager, who

posted a photo of herself with Mistral AI executive Arthur

Mensch.

Earlier this month, publication The Information reported

Mistral AI had been speaking to investors about raising several

hundred million dollars which would give it an overall $5

billion valuation.

A fund-raising round in December gave Mistral AI a 2 billion

euros ($2.1 billion) valuation.

($1 = 0.9350 euros)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Nov 28, 2023
The firm and dispatchable renewable energy (FDRE) project, designed with a hybrid of solar, wind, and battery storage, is aimed at providing a stable and dispatchable energy supply during peak hours. Shares of Tata Power Company Ltd ended at ₹270.75, up by ₹12.60, or 4.88%, on the BSE.
SJVN secures 200-MW wind power project at ₹3.24 per unit
SJVN secures 200-MW wind power project at ₹3.24 per unit
Nov 16, 2023
Projected to generate 482 million units in its inaugural year post-commissioning, the cumulative energy generation over a 25-year span is anticipated to reach 12,050 million units. Shares of SJVN Ltd ended at ₹75.17, down by ₹0.50, or 0.66%, on the BSE.
This sustainable jewellery brand is luring some women away from gold
This sustainable jewellery brand is luring some women away from gold
Oct 30, 2023
Aulerth's offerings range from ₹5,000 to as high as ₹2.8 lakh. Are women willing to spend this much on jewellery made from scrap? Founder and CEO Vivek Ramabhadran definitely believes so. Aulerth produces couture-inspired pieces in association with designers like JJ Valaya, Suneet Varma, among others. It has reported 33% repeat customers in the past year and expects a spike to 40% soon.
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Nov 15, 2023
Th Suzlon wind turbines received the RLMM (Revised List of Models & Manufacturers) listing from the Ministry of New and Renewable Energy, marking an important milestone for the successful commercialisation of the product. Shares of Suzlon Energy Ltd ended at ₹40.49, up by ₹1.85, or 4.79%, on the BSE.
Copyright 2023-2026 - www.financetom.com All Rights Reserved