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Building a competitive foundation model business against US hyperscalers is a capital problem before it is a technology problem.
The compute cost of training frontier models makes it nearly impossible to sustain without deep-pocketed backers and a differentiated position in an already crowded market.
Mistral, the French AI group that has built its identity around being Europe's primary alternative to American AI platforms, is now in talks with Samsung over an investment of as much as €1 billion at a valuation of €20 billion.
A €20 billion valuation to justify The headline figure demands scrutiny.
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