Mistral AI, the French company that develops the AI chatbot, Le Chat, and several foundational large language models, is considered one of France’s most promising tech startups , and is arguably the only European company that could compete with OpenAI .

“Go and download Le Chat, which is made by Mistral, rather than ChatGPT by OpenAI — or something else,” French president Emmanuel Macron said in a TV interview ahead of the AI Action Summit in Paris in February 2025.

In a significant step up from its June 2024 valuation of $6 billion, Mistral is now valued at €11.7 billion (approximately $13.8 billion) following a Series C funding round led by Dutch semiconductor company ASML , which invested €1.3 billion (approximately $1.5 billion) in September, alongside signing a new strategic

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