Mistral AI, a French artificial‑intelligence company, announced that it has raised more than $4 billion in total funding and is preparing to launch an open‑weight language model in July, while also outlining a €4 billion plan to build data centers in France and Sweden.

Founded in early 2023 by former researchers from Google DeepMind and Meta, the startup has grown to a valuation of roughly $23 billion and has secured a series of high‑profile partnerships. In February it reported annual recurring revenue exceeding $400 million, up from $20 million a year earlier, and said it is on track to surpass $1 billion in ARR for the current year.

The company offers a suite of models, including Mistral Small 4 and the “Les Ministraux” family designed for edge devices, and has released the code‑agent tool Leanstral as open source. It has partnered with Microsoft, which invested €15 million and will distribute its models on Azure, and with UAE investment firm MGX, NVIDIA, and bpifrance to develop an AI campus in the Paris region. Additional agreements include a European AI platform using Nvidia hardware, scheduled for 2026, and collaborations with Accenture, IBM, Orange, and several government and defense entities.

Mistral CEO Arthur Mensch said the firm aims to make advanced AI systems broadly accessible and affordable, while noting that an initial public offering remains a long‑term goal and the company is not currently for sale.