Mistral raises $3.5 billion in a record European round

MIT Technology Review's daily newsletter of 8 September reported that the European AI company Mistral has raised $3.5 billion. Citing CNBC, it described the round as the largest equity raise by a private European technology firm.

According to Reuters, the company is betting on open models at a time when its US rivals continue to keep theirs closed. The New York Times reported that Mistral is shifting its strategy to put more weight on AI infrastructure. Le Monde reported that the move toward data centers and services has attracted criticism. The newsletter does not name the investors in the round.