Mistral AI, co-founded by CEO Arthur Mensch, has announced a landmark commitment of 1.2 billion euros (approximately $1.4 billion) to establish data centers across Sweden. This investment, revealed on February 11, marks Mistral’s first foray into foreign A.I. infrastructure and is aimed at bolstering Europe’s quest for A.I. sovereignty, positioning the company as a competitor to dominant players like OpenAI.
“This investment is a concrete step towards building independent capabilities in Europe, dedicated to A.I.,” Mensch stated. He emphasized that the initiative will enhance advanced computing capacity while nurturing localized A.I. capabilities, thus reinforcing the region’s “strategic autonomy and competitiveness.” Mistral, known for its chatbot “Le Chat,” was founded in 2023 and has quickly become a focal point in Europe’s ambition to develop A.I. independently from Silicon Valley.
The collaboration with EcoDataCenter, a Swedish data center operator, will see the construction of an A.I. data center at EcoDataCenter’s site in Borlänge, scheduled to commence operations next year. This facility will enable Mistral to run its A.I. models at scale, further integrating the company within the European A.I. ecosystem.
John Wernvik, EcoDataCenter’s chief external relations and sustainability officer, remarked that Mistral’s decision to build infrastructure in Europe signifies a strong collaborative effort among European companies. He highlighted the advantages of Nordic countries, particularly Sweden, which boasts sustainable and affordable energy, extensive expertise in digital infrastructure, economic stability, and a climate conducive to reducing cooling costs.
Noteworthy is that Mistral is not alone in this initiative. Other major players, including OpenAI and Microsoft, have also taken steps to expand their data center operations in the Nordic region, with OpenAI announcing plans for a data center in Norway as part of its Stargate project.
Mistral’s ambition aligns with broader European goals. French President Emmanuel Macron has publicly endorsed such initiatives, proclaiming over $100 billion in private-sector investments for French A.I. projects last year. This reflects a significant push to enhance the European Union’s technological independence, especially as the bloc currently relies on non-EU nations for over 80% of its digital products, services, infrastructure, and intellectual property.
The investment comes on the heels of Mistral’s successful funding round last September, where it raised 1.7 billion euros (around $2 billion), valuing the company at approximately 11.7 billion euros (about $14 billion). Notable investors include Nvidia, Andreessen Horowitz, and General Catalyst, making Mistral the most well-funded A.I. venture in Europe and elevating its co-founders to billionaire status.
Despite this rapid growth, Mistral remains smaller than its U.S. rivals, including OpenAI, which is currently seeking an additional $100 million in funding, and Anthropic, reportedly pursuing a $20 billion round. However, Mistral appears to be gaining traction not only through its infrastructure expansion but also through its commercial growth. Mensch recently disclosed that Mistral’s annualized run rate has surged to over $400 million, up from $20 million the previous year, with plans to surpass $1 billion in annual recurring revenue by the end of 2026.
As Mistral continues its ambitious expansion, it stands at the intersection of technological independence and strategic collaboration in Europe. The company’s efforts reflect a growing recognition of the need for a robust local A.I. ecosystem, capable of meeting the challenges posed by dominant global players.
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