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French Startup Mistral AI Hits $6 Billion with $640 Million Raise

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Paris-based artificial intelligence startup Mistral AI has raised €600 million (approximately $640 million) in funding, bringing its valuation to $6 billion.

This new funding round marks the largest for a startup developing large-scale general-purpose AI models outside of Silicon Valley. It also provides the French startup with additional resources to compete with Silicon Valley’s leading AI companies.

Mistral AI Triples Valuation with New $640 Million Raise

A recent report reveals Mistral’s latest funding consists of €468 million ($502 million) in equity and €132 million ($141 million) in debt. Existing backers General Catalyst and Lightspeed Venture Partners are among the biggest investors in Mistral’s new Series B funding round. Arthur Mensch, the co-founder and CEO of Mistral AI, expressed his gratitude for this funding round.

“We are grateful to our new and existing investors for their continued confidence and support for our global expansion. This will accelerate our roadmap as we continue to bring frontier AI into everyone’s hands,” he wrote.

Read more: AI in Finance: Top 8 Artificial Intelligence Use Cases for 2024

Devendra Chaplot, a researcher at Mistral AI, also echoes Mensch’s enthusiasm for this funding.

“With a $640 million raise at a $6 billion+ valuation, Mistral AI has grown ~3x in valuation since December and ~25x in the last 12 months!” Chaplot stated.

Meta and Google’s DeepMind alumni co-founded Mistral AI in April 2023. The company aims to create foundational models rivaling today’s best-performing models. These include OpenAI’s GPT-4, Anthropic’s Claude 3, and Meta’s Llama 3.

Mistral AI has released several models, such as Mistral 7B, Mistral 8x7B, and Mistral 8x22B. The company offers these under an open-source Apache 2.0 license. This license allows unrestricted use and reproduction, provided there’s proper attribution.

The company’s most advanced offerings, like Mistral Large, are proprietary. They are intended to be repackaged as API-first products. Companies can use Mistral Large through an API that they’ll have to pay for according to their usage.

The company also offers a free chat assistant called Le Chat. Meanwhile, Codestral, its first generative AI model for coding, has a restrictive license.

In June 2023, Mistral AI secured €105 million ($113 million) from a founding round led by Lightspeed Venture Partners. This achievement is particularly noteworthy, considering the funding was secured shortly after the company’s launch. Jean-Nöel Barrot, the former minister in charge of digital transition and telecommunications in France, acknowledged Mistral AI’s achievement.

“Congratulations to the startup Mistral AI which raises €105 million only one month after its creation: a record!” Barrot said.

Investors Bullish on AI Growth Despite Recognized Risks

Investors’ confidence in generative AI startups like Mistral AI is plausible. A recent survey from McKinsey shows that 67% of the respondents expect their organizations to invest more in AI over the next three years.

Despite the potential, the survey noted that while businesses begin to see the benefits of generative AI, they also recognize the diverse risks associated with the technology. These can range from data management risks such as data privacy, bias, or intellectual property (IP) infringement to model management risks, which tend to focus on inaccurate output or lack of explainability.

Read more: How Will Artificial Intelligence (AI) Transform Crypto?

The Risks of Generative AI.
The Risks of Generative AI. Source: McKinsey

However, KPMG experts believe blockchain technology could solve companies’ challenges in safeguarding their IP and avoiding infringement. Blockchain technology could offer a secure and immutable way to track and manage IP, ensuring attribution and potential royalties for reused content and reducing the risk of IP misappropriation.

For instance, a company could store its IP as non-fungible tokens (NFTs) with embedded smart contracts on a blockchain, specifying the terms of use for generative AI. This approach could help prevent unauthorized use of proprietary data and ensure proper credit or compensation. Ultimately, it can help companies leverage artificial intelligence’s benefits while mitigating risks associated with IP protection and legal challenges.

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XRP Price Ready to Rally? Signs Point to a Bullish Move

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Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

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At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he’s poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush’s unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.



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Solana (SOL) Rallies Strongly, Setting Sights on $200

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Solana started a fresh increase above the $172 support zone. SOL price is rising and might soon aim for a move toward the $200 level.

  • SOL price started a fresh increase after it settled above the $165 level against the US Dollar.
  • The price is now trading above $172 and the 100-hourly simple moving average.
  • There was a break above a key bearish trend line with resistance at $162 on the hourly chart of the SOL/USD pair (data source from Kraken).
  • The pair could continue to rise if it clears the $192 resistance zone.

Solana Price Starts Fresh Rally

Solana price formed a support base and started a fresh increase above the $162 level like Bitcoin and Ethereum. There was a strong move above the $165 and $172 resistance levels.

There was a break above a key bearish trend line with resistance at $162 on the hourly chart of the SOL/USD pair. The price even cleared the $185 level. A high is formed at $192 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward move from the $155 swing low to the $192 high.

Solana is now trading above $172 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $192 level. The next major resistance is near the $195 level.

Solana Price

The main resistance could be $200. A successful close above the $200 resistance level could set the pace for another steady increase. The next key resistance is $212. Any more gains might send the price toward the $220 level.

Another Dip in SOL?

If SOL fails to rise above the $192 resistance, it could start a downside correction. Initial support on the downside is near the $188 level. The first major support is near the $180 level.

A break below the $180 level might send the price toward the $172 zone or the 50% Fib retracement level of the upward move from the $155 swing low to the $192 high. If there is a close below the $172 support, the price could decline toward the $165 support in the near term.

Technical Indicators

Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish zone.

Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level.

Major Support Levels – $188 and $185.

Major Resistance Levels – $192 and $200.



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Will Bulls Push It Higher?

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Este artículo también está disponible en español.

Ethereum price started a fresh surge above the $2,650 resistance. ETH is up over 10% and might aim for a move above the $2,850 resistance.

  • Ethereum started a fresh surge above the $2,650 resistance zone.
  • The price is trading above $2,700 and the 100-hourly Simple Moving Average.
  • There is a new connecting bullish trend line forming with support at $2,730 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could continue to rise if it settles above $2,850 and $2,880.

Ethereum Price Extends Surge

Ethereum price started a fresh increase above the $2,550 resistance like Bitcoin. ETH was able to climb above the $2,550 and $2,650 resistance levels to move into a positive zone.

It even surged above the $2,720 level in the past few sessions, beating BTC. It is up over 10% and there was a move above $2,800. A high is formed at $2,848 and the price is showing signs of more upsides. It is holding gains above the 23.6% Fib retracement level of the upward move from the $2,357 swing low to the $2,848 high.

Ethereum price is now trading above $2,700 and the 100-hourly Simple Moving Average. There is also a new connecting bullish trend line forming with support at $2,730 on the hourly chart of ETH/USD.

On the upside, the price seems to be facing hurdles near the $2,850 level. The first major resistance is near the $2,880 level. The main resistance is now forming near $2,950. A clear move above the $2,950 resistance might send the price toward the $3,000 resistance.

Ethereum Price
Source: ETHUSD on TradingView.com

An upside break above the $3,000 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,250 resistance zone.

Are Dips Supported In ETH?

If Ethereum fails to clear the $2,850 resistance, it could start a downside correction. Initial support on the downside is near the $2,800 level. The first major support sits near the $2,720 zone and the trend line.

A clear move below the $2,720 support might push the price toward $2,650. Any more losses might send the price toward the $2,550 support level in the near term. The next key support sits at $2,500.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is gaining momentum in the bullish zone.

Hourly RSIThe RSI for ETH/USD is now above the 50 zone.

Major Support Level – $2,850

Major Resistance Level – $2,720



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