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.
The talks are early, and the terms could change. The valuation may even climb higher if demand is strong, the people said. Mistral declined to comment.
Inside the Mistral funding talks
The Paris-based company was valued at €11.7bn in September, when chip-equipment giant ASML led its round. ASML put in €1.3bn for an 11 per cent stake and is now Mistral’s largest shareholder.
The new raise would top up a war chest that Mistral is burning fast. It is building data centres it owns and runs, including a major site near Paris and a €1.2bn build-out in Sweden. Owning the compute, not just the models, is the strategy.
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