French AI startup Mistral AI is reportedly in talks to raise approximately €3 billion ($3.5 billion) at a valuation of around €20 billion. This significant funding aims to bolster its position in the competitive AI landscape against US and Chinese rivals. The company, founded by former Google and Meta researchers, focuses on providing AI infrastructure for European governments and industries.

Mistral is in funding talks to raise about €3bn at a roughly €20bn valuation, Bloomberg reports, nearly doubling the European AI champion's September price.

Mistral AI plans to raise €3 billion at a €20 billion valuation, nearly doubling its September 2025 Series C price as Europe doubles down on AI sovereignty.