Mistral secures $830 million in debt financing to fund AI data center
French artificial intelligence startup Mistral said Monday it has secured $830 million in debt financing to fund a data center powered by thousands of computers. Nvidia chips.
Founded in 2023, Mistral is one of several European startups developing basic AI models and aiming to compete with the likes of OpenAI and Anthropic, albeit with a much smaller war chest.
The company has increasingly sought to invest in the infrastructure needed to power artificial intelligence, and in February announced a 1.2 billion euro plan to build data centers and computing capacity in Sweden.
“Scaling our infrastructure in Europe is critical to empowering our customers and ensuring that AI innovation and autonomy remain at the heart of Europe,” Mistral CEO Arthur Mensch said in a statement.
“Given the growing and sustained demand from governments, businesses and research institutions looking to build their own customized AI environments rather than relying on third-party cloud providers, we will continue to invest in this area.”
The transaction was supported by a consortium of seven top global banks, including Bpifrance, BNP Paribas, Crédit Agricole CIB, HSBC, La Banque Postale, MUFG and Natixis CIB.
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