Mistral in Talks With MGX, Others to Raise Up to $1 Billion (1)

French artificial intelligence startup Mistral AI is in talks to raise as much as $1 billion in equity from several investors including Abu Dhabi fund MGX, according to people familiar with the matter.

Along with the equity financing, Mistral is in talks for hundreds of millions of euros in debt from French lenders including Bpifrance SACA, some of the people said, asking not to be identified discussing private information. Bpifrance is already a Mistral investor. The discussions are preliminary and subject to change, and it wasn’t immediately clear what Mistral’s valuation would be after an investment, the people ...