10:24 AM EDT, 06/11/2024 (MT Newswires) -- Microsoft ( MSFT )- (MSFT) and Nvidia ( NVDA )- (NVDA) backed French artificial intelligence firm Mistral AI has raised 600 million euros ($643.7 million) in a new funding round that values the company at nearly 6 billion euros, according to media reports.

The investment was led by venture capital firm General Catalyst, alongside current Mistral investors such as Lightspeed and Andreessen Horowitz. Corporate backers including Nvidia ( NVDA ) and Salesforce ( CRM ) , media reports said.

"We were told when we started ... that this is a market that is never going to be disrupted," Mistral Chief Executive Arthur Mensch told the Financial Times. "We showed that this wasn't the case and we effectively disrupted the OpenAI business model."

Mistral couldn't be reached for comment by MT Newswires.

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