Mistral raises €3B as sovereign AI becomes big business

Mistral still works with U.S. players, particularly Microsoft, through a strategic partnership the two companies significantly expanded in July. The new Series D was also backed by American investors: existing backers such as a16z, Nvidia and Salesforce Ventures invested, as did new backers Advent and BlackRock. 

Still, with the Grand Duchy of Luxembourg also joining as a new backer and many other existing European backers doubling down, the AI lab’s cap table remains resolutely international. And that might be enough for the customers Mistral is targeting.