Report: Mistral Aims to Raise Financing for AI Cloud Service

Mistral AI is reportedly in talks to raise as much as $1 billion in equity financing from investors including MGX as well as hundreds of millions of euros in debt from French lenders.

The debt would help fund an artificial intelligence (AI) cloud service in France called Mistral Compute, Bloomberg reported Tuesday (July 8), citing unnamed sources.

The discussions are in their early stages and could change, according to the report.

Neither Mistral AI nor MGX immediately replied to PYMNTS’ request for comment.

According to the Bloomberg report, the potential equity financing would deepen ties between France and the United Arab Emirates (UAE) in the AI field, as Mistral AI is based in France and MGX is based in Abu Dhabi.

The two companies have already partnered with Nvidia to build Europe’s largest data center campus, the report said.

When Mistral AI and Nvidia announced in June that they had partnered to develop next-generation AI cloud services in France, France took a major step forward in asserting its AI power, PYMNTS reported at the time.

During a panel at the Viva Tech 2025 conference, French President Emmanuel Macron said the collaboration was “a game changer” and praised it as key to strengthening the country’s technological independence.

Mistral AI CEO Arthur Mensch said during the panel the AI cloud services project would expand Mistral’s business model, with the company transitioning from merely being a model developer to a vertically integrated AI cloud provider.

“We’re still doing models, but on top of that, we are going to be operating more of our software platform on digital assets that we’re deploying — that we’re deploying together,” Mensch said.

It was reported in May that Mistral AI had tripled the revenue of its business in about three months.

“In the last 100 days, we have tripled our business, in particular in Europe and outside of the U.S.,” Mensch told reporters. “We’ve been … growing in the U.S. quite fast as well.”

Mistral AI, which is valued at $6 billion, does not publicly disclose its revenue, but had, by at least one account, revenues of $30 million last year.

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