<story><title>France’s Mistral AI raises a $113M seed round to take on OpenAI</title><url>https://techcrunch.com/2023/06/13/frances-mistral-ai-blows-in-with-a-113m-seed-round-at-a-260m-valuation-to-take-on-openai/</url></story><parent_chain><item><author>dopamean</author><text>&amp;gt; It’s very early to talk about what Mistral is doing or will be doing — it’s only around a month old — but from what Mensch said, the plan is to build models using only publicly available data to avoid legal issues that some others have faced over training data, he said; users will be able to contribute their own datasets, too. Models and data sets will be open-sourced, as well.&lt;p&gt;Unless I missed it elsewhere in the article this part really glosses over something I have a hard time understanding. 113M seed round at a 240M valuation for a company that has no product yet and a plan to build something like something else that already exists. This feels insane to me.</text></item></parent_chain><comment><author>elcomet</author><text>They&amp;#x27;re investing in the team, which I think is smarter than investing in an idea. Those people built llama at meta and flamingo&amp;#x2F;chinchilla at deepmind.</text></comment>
<story><title>France’s Mistral AI raises a $113M seed round to take on OpenAI</title><url>https://techcrunch.com/2023/06/13/frances-mistral-ai-blows-in-with-a-113m-seed-round-at-a-260m-valuation-to-take-on-openai/</url></story><parent_chain><item><author>dopamean</author><text>&amp;gt; It’s very early to talk about what Mistral is doing or will be doing — it’s only around a month old — but from what Mensch said, the plan is to build models using only publicly available data to avoid legal issues that some others have faced over training data, he said; users will be able to contribute their own datasets, too. Models and data sets will be open-sourced, as well.&lt;p&gt;Unless I missed it elsewhere in the article this part really glosses over something I have a hard time understanding. 113M seed round at a 240M valuation for a company that has no product yet and a plan to build something like something else that already exists. This feels insane to me.</text></item></parent_chain><comment><author>mach1ne</author><text>Maybe there’s enough money in Europe that investors who were anxious to join the AI train jumped the gun. Indeed the whole thing is sketchy.</text></comment>