European AI startup Mistral, established just six months ago, has completed two rounds of funding, with its valuation soaring to $20 billion. The open-source model Mixtral 8x7B it released is comparable to GPT-4 in performance and is considered a strong challenger to OpenAI in the industry. Mistral has also received policy support from French President Emmanuel Macron, earning the nickname "France's OpenAI." Through its open-source strategy and differentiated positioning, Mistral is competing head-to-head with OpenAI.