France's Mistral raises $830 million in debt for AI data centre build-up

Reuters03-30 14:00
France's Mistral raises $830 million in debt for AI data centre build-up

By Supantha Mukherjee and Leo Marchandon

STOCKHOLM, March 30 - Europe's leading AI provider Mistral has raised $830 million in new debt to buy 13,800 Nvidia NVDA.O chips for a major data centre near Paris, the firm told Reuters, as Europe races to scale AI infrastructure to compete with the U.S. and China.

The deal, set to be announced on Monday, marks Mistral's first debt raising and underscores growing investor confidence in European AI firms as they seek to challenge the dominance of U.S. tech giants like Microsoft MSFT.O, Google GOOGL.O and Amazon AMZN.O in cloud computing and AI services.

Mistral's debt raising was financed by a consortium of seven banks, including BNP Paribas BNPP.PA, Crédit Agricole CIB CAGR.PA, HSBC HSBA.L and MUFG 8306.T, it said. The data center in Bruyeres-le-Chatel is expected to become operational in the second quarter of 2026.

(Reporting by Supantha Mukerjee in Stockholm and Leo Marchandon in Gdansk)

((leo.marchandon@thomsonreuters.com))

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment