In June 2025, the U.S. Commerce Department suspended foreign access to Anthropic’s Mythos AI model, triggering panic among European businesses and governments. This decision validated warnings from Arthur Mensch, CEO of Mistral, who had previously cautioned French lawmakers about the risks of technological dependency and becoming a « vassal state ». Founded in April 2023, Mistral has raised approximately $4 billion for a valuation of $23 billion, but remains far behind American players (Anthropic at $965 billion, OpenAI at $852 billion). The company has nonetheless achieved an annualized revenue run rate exceeding $400 million in 2025, aiming to surpass $1 billion by year-end, and acquired Emmi AI to strengthen its manufacturing industry positions with deals involving Airbus and BMW.
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