France's Mistral to build data centers in Sweden

French AI developer Mistral AI announced on Wednesday that it will construct data centers in Sweden — its first facilities outside France — as it accelerates efforts to compete with major global players in the sector.

The company said the €1.2 billion ($1.4 billion) investment represents “a major step toward Europe’s technological independence,” adding that the expansion will deliver “a completely European AI solution,” News.Az reports, citing AFP.

Considered one of Europe’s leading AI firms, Mistral has generated revenues that remain well below those of US-based rivals such as OpenAI and Anthropic. Like much of the AI industry, however, sustained profitability continues to be a challenge.

Mistral’s European roots could offer a strategic advantage at a time when technological sovereignty has become a growing priority for policymakers across the continent.

Unlike competitors focused on consumer-facing chatbots such as OpenAI’s ChatGPT or Anthropic’s Claude, Mistral has concentrated primarily on enterprise clients and business applications.

In September, the company raised €1.7 billion in funding, bringing Dutch semiconductor equipment maker ASML on board as a key investor.

The fundraising round valued Mistral at €11.7 billion. Chief executive Arthur Mensch has said the company expects its revenue to exceed €1 billion this year.

News.Az 

By Nijat Babayev