French generative AI startup Mistral AI is on the verge of completing a funding round of approximately €450 million, with a valuation close to $2 billion. Founded by former scientists from DeepMind and Meta, the company focuses on developing smaller models tailored for developer spaces. The successful funding of Mistral AI marks a significant milestone in the European generative artificial intelligence sector, and the company's funding will propel the advancement of the generative AI field in Europe.