Mistral AI Reportedly Seeking $1 Billion Funding

Mistral AI Pursues Significant Funding Round

According to sources cited by Bloomberg, the French artificial intelligence company, Mistral, is currently engaged in discussions with potential investors to secure equity funding potentially reaching $1 billion.

Among the prospective investors is MGX, a fund based in Abu Dhabi. These negotiations signify a substantial step in Mistral’s growth trajectory.

Exploring Debt Financing Options

In addition to equity financing, Mistral is reportedly exploring debt financing avenues. Discussions are underway with French lending institutions, notably Bpifrance SACA, to potentially raise several hundred million euros.

TechCrunch has contacted Mistral for an official statement regarding these financial developments.

A Leading European AI Force

Mistral has quickly established itself as a key innovator within the European AI sector. The company is recognized for its development of open-weight Large Language Models (LLMs), including the Le Chat chatbot.

To date, Mistral has successfully raised $1.19 billion in funding. This valuation places the company at $6.51 billion post-money, as reported by PitchBook.

The most recent funding round, a Series B, was completed in June 2024.

Strategic Partnerships and AI Infrastructure

Mistral is already collaborating with both MGX – a $100 billion AI fund supported by the government – and Nvidia. This collaboration is focused on the construction of a large-scale AI data center campus within Europe.

Furthermore, the United Arab Emirates has pledged a €50 billion investment in AI initiatives within France. This commitment aligns with French President Emmanuel Macron’s efforts to bolster AI sovereignty.

This investment underscores the growing importance of AI development and deployment within France and across Europe.