Mistral AI is raising $830 million in debt to build 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 construction and commissioning of the data center in Bruyères-le-Châtel in the second quarter of 2026, Reuters reported on Monday.

Mistral did not immediately respond to a request for confirmation.

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

“Expanding our infrastructure in Europe is critical to empowering our customers and ensuring AI innovation and autonomy remain at the heart of Europe. We will continue to invest in this area, given the growing and sustained demand from governments, companies and research institutions seeking to build their own custom AI environment, rather than relying on third-party cloud providers,” Mensch said in a statement to CNBC.

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