Mistral AI, founded in 2023, has rapidly grown, raising over €1 billion since inception and reaching a valuation of $6 billion, with reported revenues of $30 million last year.

The company is currently in early-stage discussions to raise up to $1 billion in equity funding from investors including Abu Dhabi's MGX, alongside hundreds of millions of euros in debt from French lenders like Bpifrance SACA.

This funding aims to support Mistral's expansion into AI cloud services with its Mistral Compute platform, as well as to bolster its market presence internationally, especially in Europe.

Mistral is shifting strategically from focusing solely on large language models to exploring military applications of its AI technology, signaling a broader scope for its innovations.

The upcoming funding round could strengthen France-UAE collaboration in AI, aligning with the UAE's plan to invest €50 billion in AI projects in France, and fostering industry leadership beyond the US and China.

French President Emmanuel Macron praised the Nvidia-Mistral partnership at Viva Tech 2025 as a pivotal move toward France's technological independence, with Mistral collaborating with Nvidia and MGX on Europe's largest AI data center campus.

Negotiations are ongoing for hundreds of millions of euros in debt financing from French lenders, including Bpifrance SACA, to support its growth initiatives.

Both Mistral and MGX, backed by the Abu Dhabi government, are partnering with Nvidia to develop Europe's largest data center campus in France, emphasizing their commitment to AI infrastructure.

Mistral CEO Arthur Mensch announced plans to evolve from model development to operating as a vertically integrated AI cloud provider, deploying digital assets and software platforms.

The company’s rapid growth and recent funding efforts highlight its ambition to compete globally in the AI industry, which is currently dominated by the US and China.

Mistral has already raised a total of $1.19 billion in funding, including a Series B round in June 2024, and is now seeking additional capital to sustain its expansion.

Beyond its commercial pursuits, Mistral is exploring potential military applications of its AI technology, indicating a strategic diversification.