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 year, when its CEO Arthur Mensch said it would explore different financing options in February 2025. It plans to complete building the 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 seeking confirmation.

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

“Scaling our infrastructure in Europe is critical to empower our customers and to ensure AI innovation and autonomy remain at the heart of Europe. We will continue to invest in this area, given the surging and sustained demand from governments, enterprises, and research institutions seeking to build their own customized AI environment, rather than depend on third-party cloud providers,” Mensch said in a statement to CNBC.

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