Mistral AI, the French artificial intelligence startup founded in Paris in 2023 by former Google DeepMind and Meta researchers, is not listed on the stock market in 2026 and no IPO has been announced. In September 2025, the company raised 1.7 billion euros, bringing its valuation to 11.7 billion euros, making it the first French decacorn in history. Its main shareholders include ASML (11% of capital), Nvidia, Microsoft, Bpifrance, Andreessen Horowitz and General Catalyst. In July 2026, Mistral and Microsoft announced a strategic partnership worth several billion dollars, with the French company’s models being integrated into the Azure platform and Microsoft Foundry.
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