Mistral AI commits $1.4 billion to build data centers in Sweden, marking Europe's AI autonomy push

France AI company Mistral invests $1.4 billion in data centres in Sweden

PARIS, Feb 11 (Reuters) - French artificial intelligence startup Mistral AI said on Wednesday it will invest 1.2 billion euros ($1.43 billion) in new data centres in Sweden. "This investment is a concrete step toward building independent capabilities in Europe, dedicated to AI," Arthur Mensch, CEO and Co-Founder of Mistral AI, said in a statement. Swedish data centre operator EcoDataCenter will design, build and run the new infrastructure, it said in a separate statement. The new large-scale computer capacity is scheduled to open in Sweden in 2027 and will support Mistral's next generation AI models, EcoDataCenter said. It will be Mistral's first infrastructure investment outside France. The new computer infrastructure is part of an effort by the company to keep its technology and all its cloud servers in Europe, unlike its main competitors such as U.S.-based Open AI. ($1 = 0.8396 euros) Reporting by Inti Landauro, Editing by Louise Heavens Our Standards: The Thomson Reuters Trust Principles., opens new tab

Europe's answer to OpenAI announces billion-dollar AI infrastructure push in Sweden

Mistral raised a 1.7 billion euro funding round in September, hitting an 11.7 billion euro valuation. French AI startup Mistral said on Wednesday it will invest 1.2 billion euros ($1.43 billion) into digital infrastructure in Sweden, including AI data centers. The announcement comes as Europe scrambles to build out the infrastructure needed to power rapidly developing AI tools, as it seeks to build tech sovereignty amid rising geopolitical tensions. The funds will facilitate the development of AI data centers, advanced compute capacity and localized AI capabilities, Mistral said. Founded in 2023, Mistral has emerged as one of Europe's leading AI companies and raised a 1.7 billion euro funding round in September, hitting an 11.7 billion euro valuation. Dutch chip equipment maker ASML contributed 1.3 billion euros to the round. The company also counts big tech giants Nvidia and Microsoft as investors, alongside DST Global, Andreessen Horowitz, Bpifrance, General Catalyst, and Index Ventures. "This investment is a concrete step toward building independent capabilities in Europe, dedicated to AI", said Arthur Mensch, Mistral CEO, in a statement. "By delivering a fully vertical offer with locally processed and stored data, we are reinforcing Europe's strategic autonomy and competitiveness," he added. "This lays the foundation for a European AI cloud that can serve industries, public institutions, and researchers at scale."

French AI firm Mistral to build data centres in Sweden

Paris (France) (AFP) - French AI developer Mistral said Wednesday that it would build data centres in Sweden, its first outside France, as it races to compete with the sector's biggest names. The 1.2 billion euro ($1.4 billion) investment is "a major step toward Europe's technological independence", Mistral said, offering "a completely European AI solution". One of Europe's leading lights in artificial intelligence, Mistral has posted revenues far behind those of American competitors such as OpenAI and Anthropic, though profitability remains elusive for most of the sector. But Mistral's European DNA may prove to be an advantage, with technological sovereignty increasingly on leaders' minds. It has focussed in particular on business clients and applications, and not chatbots like ChatGPT or Claude that target everyday users. In September it raised 1.7 billion euros, bringing aboard Dutch chipmaking technology giant ASML as a key investor. The fundraising valued Mistral at 11.7 billion euros, and chief executive Arthur Mensch has said the company's revenue should top one billion euros this year.

Mistral CEO Arthur Mensch's $1.4B Data Center Push Powers Europe's A.I. Autonomy

Arthur Mensch is turning Mistral into Europe's strongest contender for sovereign A.I. infrastructure and technological independence. Mistral AI co-founder and CEO Arthur Mensch knows that it isn't just France but all of Europe that relies on his startup to deliver an alternative to U.S. powerhouses like OpenAI. In its first-ever foreign A.I. infrastructure investment, the Paris-based company is committing 1.2 billion euros ($1.4 billion) to build data centers across Sweden, it announced yesterday (Feb. 11). Sign Up For Our Daily Newsletter Sign Up Thank you for signing up! By clicking submit, you agree to our <a href="http://observermedia.com/terms">terms of service</a> and acknowledge we may use your information to send you emails, product samples, and promotions on this website and other properties. You can opt out anytime. See all of our newsletters "This investment is a concrete step towards building independent capabilities in Europe, dedicated to A.I.," said Mensch in a statement. The move will focus on expanding advanced compute capacity and localized A.I. capabilities, and is expected to further reinforce the region's "strategic autonomy and competitiveness," he added. Mensch previously worked on large language models and multimodal systems at Google DeepMind before co-founding Mistral in 2023 alongside former Meta researchers Guillaume Lample and Timotheé Lacroix. Best known for its "Le Chat" chatbot, Mistral sits at the center of Europe's ambition to build sovereign A.I. independent of Silicon Valley. The new investment will see Mistral partner with EcoDataCenter, a Swedish data center operator. Their collaboration includes building an A.I. data center at EcoDataCenter's facility in Borlänge, Sweden, expected to open next year and run Mistral's A.I. models at scale. "When one of Europe's leading A.I. companies chooses to establish infrastructure in Europe, it sends a strong signal that Europe can collaborate across borders and European companies can build together," John Wernvik, EcoDataCenter's chief external relations and sustainability officer, told Observer via email. He added that Nordic countries such as Sweden are particularly well suited for data centers thanks to their sustainable and affordable energy, as well as deep expertise in digital infrastructure engineering, design and operations. Other advantages include economic stability, a skilled workforce and a cool climate that reduces cooling costs -- and Mensch isn't the only one to take notice. OpenAI last year unveiled plans to build a data center in Norway as part of its Stargate project, while Microsoft and Google have expanded their data center footprints in countries including Sweden, Denmark and Finland. Mensch's push for a local A.I. ecosystem anchored in European infrastructure has won praise from leaders such as French President Emmanuel Macron, who last year announced more than $100 billion in private-sector investments for French A.I. initiatives. The effort reflects a broader goal of boosting the European Union's technological independence, as the bloc currently relies on non-EU nations for more than 80 percent of its digital products, services, infrastructure and intellectual property. Investors have taken notice as well. Last September, Mistral raised 1.7 billion euros ($2 billion) in a funding round that valued the company at 11.7. billion euros ($14 billion). Investors include Nvidia, Andreessen Horowitz and General Catalyst. The deal made Mistral the most well-funded European A.I. venture and turned its co-founders into billionaires. For now, Mistral remains far smaller than U.S. rivals like OpenAI, which is seeking another $100 million in funding, and Anthropic, which is reportedly pursuing a $20 billion round. But the French startup is gaining momentum not just through infrastructure expansion, but also commercial growth. Mistral's annualized run rate now exceeds $400 million, up from $20 million last year, said Mensch in a recent interview with the Financial Times, where he unveiled plans to surpass $1 billion in annual recurring revenue by the end of 2026. Both annualized run rate and annual recurring revenue are metrics used to predict revenue.

French AI startup Mistral invests $1.4 billion in data centres in Sweden

French AI firm Mistral AI is investing 1.2 billion euros in new data centres in Sweden. This significant investment aims to build independent AI capabilities within Europe. The new infrastructure will support Mistral's advanced AI models. French artificial intelligence startup Mistral AI said on Wednesday it will invest 1.2 billion euros ($1.43 billion) in new data centres in Sweden. "This investment ⁠is ⁠a concrete step toward building independent capabilities in Europe, dedicated to AI," Arthur Mensch, CEO and Co-Founder of Mistral AI, said in a statement. Swedish data centre ⁠operator EcoDataCenter will design, build and run the new infrastructure, ⁠it said in a separate statement. The new large-scale computer capacity is scheduled to open in Sweden in 2027 and will support Mistral's next generation AI models, EcoDataCenter said. It will be Mistral's first infrastructure investment outside France. The new computer infrastructure is part of ⁠an effort by the company to keep its technology and all its cloud servers in Europe, unlike its main competitors such as U.S.-based Open AI.

Europe's OpenAI Rival Mistral Bets $1.4 Billion On Swedish AI Infrastructure Buildout - ASML Holding (NASDAQ:ASML), Alphabet (NASDAQ:GOOG)

French AI startup Mistral AI on Wednesday unveiled a €1.2 billion ($1.43 billion) investment with Swedish company EcoDataCenter to bolster Sweden's digital infrastructure. Mistral's First AI Facility Outside France The companies revealed a strategic, long-term alliance to establish an AI-centric data center at EcoDataCenter's Borlänge site in Sweden. The partnership includes AI-specialized data centers, advanced compute capacity, and localized AI capabilities. This marks Mistral AI's inaugural AI infrastructure investment outside of France. Set to begin operations in 2027, the facility will support the large-scale development and deployment of Mistral's next-generation AI models. Mistral CEO Arthur Mensch said: "This investment is a concrete step towards building independent capabilities in Europe, dedicated to AI." Europe Looks To Boost Tech Strength Europe is also racing to build out the infrastructure needed to power rapidly advancing AI tools, in a bid to better compete with U.S. tech giants amid rising geopolitical tensions. Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Image via Shutterstock Market News and Data brought to you by Benzinga APIs To add Benzinga News as your preferred source on Google, click here.