French AI lab Mistral is working on an IPO, said co-founder and CEO Arthur Mensch said in an interview with Bloomberg on Tuesday on the World Economic Forum in Davos.
Mistral is “not on the market,” Mensch said, adding that the corporate plans to open an office in Singapore to deal with the Asia-Pacific region and is growing in Europe and the United States. “Of course (an IPO) is the plan.” ”
Mistral, which Mensch launched in 2023 alongside former researchers from Google's DeepMind and Meta, is commonly described as Europe's answer to established US firms like OpenAI. The lab publishes AI models and services that compete with offerings from OpenAI and others, including a ChatGPT-like platform called Le Chat.
Mistral has thus far raised around $1.14 billion in capital from investors including Andreessen Horowitz, General Catalyst and Lightspeed Venture Partners. The company reportedly got here last appreciated at around $6 billion.
