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EU's Vestager meets French tech firm Mistral AI amid competition concerns

Economic Times · 1y

European Union antitrust chief, Margrethe Vestager, emphasized the need for more competition in the AI sector during a meeting with Mistral AI, a fast-growing French start-up. Vestager has been investigating the partnerships between Big Tech companies and AI start-ups, raising concerns about potential domination in the field. Microsoft's $16 million investment in Mistral AI and collaboration with the company to make AI models available on its Azure platform, as well as similar investments by Amazon and Google in Anthropic, have triggered regulatory worries. Mistral AI is reportedly in talks to raise several hundred million dollars, with an estimated valuation of $5 billion.