Mistral AI unveils small, powerful and open-source AI model

Paris-based AI startup Mistral AI reports it is open-sourcing a new, lightweight AI model called Mistral Small 3.1. The company claims this model outperforms similar models from OpenAI and Google LLC.

This move will further intensify the competition for powerful, yet cost-effective large language models (LLMs). Mistral Small 3.1 can process both text and images with only 24 billion parameters. This means it operates at a fraction of the size of many advanced models…