Mistral AI raises $830M in debt to set up a data center near Paris

French lab Mistral AI has raised $830 million in debt to build a new data center near Paris that will be powered by Nvidia chips, according to reports from Reuters And CNBC.

Mistral first announced plans to build a data center last yearwhen CEO Arthur Mensch said it would explore various financing options in February 2025. It plans to complete construction of the data center in Bruyeres-le-Chatel and make it operational in the second quarter of 2026, Reuters reported on Monday.

Mistral did not immediately return a request for confirmation.

Last month the company said it would invest $1.4 billion in Sweden to build out an AI infrastructure, including data centers. Mistral said it aims to deploy 200 megawatts of computing capacity across Europe by 2027.

“Scaling up our infrastructure in Europe is critical to empowering our customers and ensuring that AI innovation and autonomy remain at the heart of Europe. We will continue to invest in this area, given rising and ongoing demand from governments, enterprises and research institutions looking to build their own tailor-made AI environment, rather than having to rely on third-party cloud providers,” Mensch said in a statement to CNBC.

Mistral has raised more than €2.8 billion ($3.1 billion) in funding to date from investors including General Catalyst, ASML, a16z, Lightspeed and DST Global, according to Crunchbase data.