French startup Mistral AI, backed by Nvidia, released a new app for its generative AI software in Paris on Thursday, shortly after China's DeepSeek unveiled a new AI assistant. Mistral AI's open-source Le Chat assistant, which responds at speeds of up to 1,000 words per second, is gaining attention in the AI arena. Company CEO Arthur Mensch emphasized the significance of European tech players, aiming to provide advanced technology to a global audience.
Mensch acknowledged the competition from DeepSeek, which benefited from Mistral's open-source technology in the past, underlining the importance of European alternatives in the AI landscape. With partnerships lined up with major companies like Veolia, Mistral AI is expanding its influence beyond its current user base. Despite trailing behind giants like ChatGPT, Mistral AI remains focused on fostering accessibility to AI technologies for all users, with no immediate plans for an IPO.