Mistral AI

France

Mistral AI is a Paris-based artificial-intelligence lab founded in 2023 that develops open-weight large language models, positioning itself as Europe's leading independent challenger to OpenAI and Google.

Mistral raised a €1.7 billion round in 2025 that valued it at around €11.7 billion and was led by the Dutch semiconductor-equipment maker ASML, which took a strategic stake, cementing Mistral as Europe's most valuable AI startup.

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Open-weight LLMs from Paris, unicorns from Stockholm: the European AI companies already shipping at global scale.

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