French bank BNP Paribas said on Tuesday it had signed a comprehensive collaboration agreement with Mistral AI covering all of the company's current and future commercial models.
The deal expands a relationship that began in September, with BNP Paribas reportedly deploying Mistral AI's large-scale language models across multiple business areas, including customer support, sales and IT.
As companies compete for partnerships to deploy generative AI, Mistral is being seen as a European alternative to OpenAI.
The Paris-based startup was founded in 2023 by ex-Google Deep Mind and Meta AI scientists and has since raised more than €1 billion in three funding rounds. It has released both open-source and proprietary AI models to challenge market-leading competitors.
“Generative AI has great potential to enhance our client services, across sales, trading and research, and we are pleased to continue working with Mistral AI towards that goal,” Olivier Ostie, head of global markets at BNP Paribas, said in a statement.
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