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

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

Mistral first announced construction plans data center last yearwhile its CEO Arthur Mensch said that it will explore different financing options in February 2025. It plans to finish building a data center in Bruyères-le-Châtel 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 go public $1.4 billion in Sweden building AI infrastructure, including data centers. Mistral says it wants to deploy 200 megawatts of computing power to Europe by 2027.

“Expanding our infrastructure in Europe is important to empower our customers and ensure that AI innovation and autonomy remain at the heart of Europe. We will continue to invest in this region, given the growing number of governments, businesses, and research organizations that want to create their own AI environments, instead of relying on cloud providers,” Mensch said in a speech to CNBC.

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