Mistral Invests €1.2 Billion in 'Sovereign AI'

French AI startup Mistral has announced a €1.2 billion investment to develop 'sovereign AI', aiming for European digital independence.

Founded in 2023, the company has increased its revenue 20-fold in one year, exceeding €400 million annually. Its clients include ASML, TotalEnergies, HSBC, and governments such as France, Germany, Greece.

Mistral will create new data centers in Sweden in collaboration with EcoDataCenter, aiming to provide 23 MW of computing power from 2027, leveraging Scandinavia's low-cost energy.

Mistral's CEO, Arthur Mensch, stated that the company is rejecting an IPO this year, planning an introduction 'in the coming years' for long-term independence.