tech
Mistral is in funding talks at a €20bn valuation
Mistral is in funding talks to raise about €3bn ($3.5bn) at a valuation of roughly €20bn, Bloomberg reported on Friday, citing people familiar with the discussions. That would nearly double the price investors put on Europe’s leading AI startup just months ago.
TL;DR
- Mistral AI is in talks to raise about €3bn ($3.5bn) at a valuation of roughly €20bn.
- This valuation would nearly double the company's previous valuation from September.
- Mistral is investing in building and operating its own data centers, including a major site near Paris and a €1.2bn build-out in Sweden.
- The company was founded in 2023 by researchers from Google DeepMind and Meta, positioning itself as a European sovereign alternative to American AI.
- Mistral has signed industrial partners like Airbus and BMW for tailored AI solutions.
- The company is also developing a rival to Anthropic's Mythos model for European banks and cybersecurity applications.
- Mistral is exploring designing its own chips to reduce reliance on Nvidia.
- The ambition is to compete with major AI players like OpenAI and Anthropic, which have significantly higher valuations.