Mistral is the AI ​​that is playing its cards best. Because it is taking advantage of the fever for European technological sovereignty

To the cheetah being silent, Mistral grows like foam. The French artificial intelligence startup claims that its revenue has multiplied by 20 over the past year, and they have achieved it with a particularly striking and effective strategy: defending and promoting European technological sovereignty.

what has happened. Arthur Mensch, co-founder and CEO of Mistral, explains in Financial Times that its latest annualized revenue rate — which estimates annual revenue based on last month’s revenue — was above $400 million. A year ago that rate was only 20 million a year. Or what is the same: he has multiplied it by 20.

This works. The startup based in Paris hasn’t stopped to grow since its beginnings and last year already was valued at 12,000 million euros. That figure may soon become obsolete, because the company is on track to surpass $1 billion in annual recurring revenue by the end of the year if it continues this growth. Between their alliances more striking is the one who signed with ASML in September 2025: that was when the Dutch company invested 1.3 billion euros in it. It is not making too much noise, but it continues to grow with a key component.

Companies in power. Mistral is rapidly expanding the number of large enterprise clients it works with. Right now it has more than 100, and although it is not especially popular among end users – who tend to choose models from Big Tech companies in the US – the option for these European companies is increasingly clear. If they want not to depend on infrastructure and control outside Europe, they now have Mistral as a great alternative.

New data centers. The firm announced this Wednesday that it will invest 1.2 billion euros in a new data center in Sweden. It is the first center of its kind that the company will build outside of France, and Mensch explained that “We are diversifying and distributing our capacity throughout Europe.” That data center will be created in collaboration with EcoDataCenter, and is expected to be operational in 2027. The choice of Sweden was easy according to Mensch, who noted that it was very attractive because the energy there was “low in carbon emissions and relatively cheap.”

Partners and clients deep inside but also outside the EU. Although Mistral is postulated as the great reference in terms of this “European AI”, it also has Microsoft and NVIDIA as investors. In fact its ambition is global, but the fact of being the only major European developer of foundational LLMs It has put it in the spotlight of all European companies that seek independence from partners from the US or China. ASML, Total Energies, HSBC and governments such as France, Germany and Greece already use Mistral’s services, and 60% of their revenue comes from Europe.

A perfect speech for these times. The CEO of Mistral is clear about the strategy and has arrived at the right time to apply that strategy that defends European sovereignty:

“Europe has realized that its dependence on American digital services was excessive and is now at a critical point. We give them (European companies) an advantage because we provide them with models, software and computing capacity completely independent of American players.”

Data centers must be from European companies. Mensch also talked about all those data centers than Big Tech will create in Europe and, of course, in Spain: “It is important that we realize that it is not so useful (for States) to deploy computing resources if you only create data centers for US hyperscalers“. Or what is the same: having AI data centers from companies like Microsoft, Google or Amazon in Europe serves the interests of these companies much more than European interests.

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