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 global banks, including Bpifrance, BNP Paribas, Crédit Agricole CIB, HSBC, La Banque Postale, MUFG and Natixis CIB.
The data center site, near Paris, was selected by Mistral in 2025 and will power the training of the company’s AI models and deliver inference services. It’s set to become operational in the second quarter of this year.
The data center will be powered by 13,800 Nvidia GB300 graphics processing units (GPUs), bringing its total capacity to 44 MW. Mistral aims to have 200 MW of capacity across Europe by the end of 2027.
While the French startup is the best-funded large language model (LLM)-builder in Europe, having raised $2.9 billion, according to deal-counting platform Dealroom, that figure is dwarfed by the sums picked up by U.S. counterparts.
OpenAI has raised $180 billion with Anthropic’s funding amounting to $59 billion, per Dealroom.
However, European AI startups are increasingly raising large rounds from investors. So far in 2026, U.K.-based duo AI data center company Nscale and autonomous driving startup Wayve raised $2 billion and $1.2 billion, respectively, and France’s AMI Labs has picked up $1 billion.