OVHcloud, Europe’s leading cloud computing services provider headquartered in Roubaix, France, announced plans to train its own artificial intelligence models, positioning itself as a potential competitor to Mistral. The company has completed several strategic acquisitions, including Dragon LLM, Seald, and Gladia, to build the capabilities needed for its AI Lab to develop large language models. It has also secured sovereign cloud contracts with the European Commission (capped at 180 million euros over six years) and the European Space Agency. In the third quarter of 2026, quarterly revenue reached 289.6 million euros, up 6.9% year-over-year, driven by the Public Cloud segment growing 20.2%. OVH shares have more than doubled since the start of 2026, pushing market capitalization to 2.56 billion euros, though analysts remain divided on valuation with the consensus significantly below the current share price.
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