Mistral secures $830 million in debt financing to fund AI data center
Mistral is one of the few European startups building foundational AI models.
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In this article NVDA Follow your favorite stocks CREATE FREE ACCOUNT French AI startup Mistral said Monday it has secured $830 million in debt financing to fund a data center powered by thousands of Nvidia chips. Founded in 2023, Mistral is one of the few European startups building foundational AI models, looking to compete with the likes of OpenAI and Anthropic, albeit with a far smaller war chest. The company has increasingly looked to invest in the infrastructure needed to power AI, and in February it announced a 1.2-billion-euro plan to build data centers and compute capacity in Sweden. "Scaling our infrastructure in Europe is critical to empower our customers and to ensure AI innovation and autonomy remain at the heart of Europe," said Arthur Mensch, CEO of Mistral, in a statement. "We will continue to invest in this area, given the surging and sustained demand from governments, enterprises and research institutions seeking to build their own customized AI environment, rather than depend on third-party cloud providers." The transaction was supported by a consortium of seven top-tier global banks, including Bpifrance, BNP Paribas, Crédit Agricole CIB, HSBC, La Banque Postale, MUFG and Natixis CIB. This is a breaking story. Refresh for updates. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news. Subscribe to CNBC PRO Subscribe to Investing Club Licensing & Reprints CNBC Councils Select Personal Finance Join the CNBC Panel Closed Captioning Digital Products News Releases Internships Corrections About CNBC Site Map Podcasts Careers Help Contact News Tips Got a confidential news tip? We want to hear from you. Get In Touch CNBC Newsletters Sign up for free newsletters and get more CNBC delivered to your inbox Sign Up Now Get this delivered to your inbox, and more info about our products and services. Advertise With Us Please Contact Us Ad Choices Privacy Policy Your Privacy Choices CA Notice Terms of Ser...
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