The problem is that they're in a weird position between US models and Chinese models. Not as performant as US models, not as cheap as Chinese models.

Especially as Chinese models are getting better Mistral is getting less and less relevant.

It pains me because I want them to succeed, but despite them denying it I believe they'll end up restrict their activity to (1) selling hosting for Chinese models (they're already hosting GLM) and (2) selling AI-related consultant service (they're also doing that already).