Startup Europe — The Sifted Podcast Is Mistral worth $6bn?
Jul 17, 2025
Daphné Leprince-Ringuet, a senior reporter and French tech correspondent at Sifted, dives into the intriguing journey of Mistral, a Paris-based AI startup that raised a whopping €105 million in 2023. She explores Mistral's strategic partnerships, its shift towards data centers, and how it competes against giants like OpenAI. Daphné discusses the pressures of leadership in a rapidly growing environment, evolving communication strategies, and the broader context of challenges within the French tech landscape. Is Mistral's $6bn valuation justified? Listen to find out!
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Mistral's Unique Pitch Excites Investors
- Mistral excited investors by building advanced AI in Europe, competing with US giants like OpenAI.
- They focused on efficient, open-source models aligned with European values and data privacy.
Mistral Delivers But Remains Smaller
- Mistral delivered high-performing, efficient models with open source options and enterprise customization.
- They generate revenues around €30m in 2024, aiming for €100m in 2025, but remain much smaller than US rivals.
Compute Platform Is Ambitious Risk
- Mistral's move into AI compute and data centers is ambitious but risky against US giants.
- Some argue they should innovate with custom AI chips instead of relying on NVIDIA's tech.