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.
