French AI developer Mistral announced a €1.2 billion ($1.4 billion) investment in Swedish data centers on Wednesday, marking its first infrastructure expansion outside France. The facilities will be located in Borlänge and operated in partnership with Swedish data center provider EcoDataCenter.
The new data centers are scheduled to open in 2027 and will support Mistral's next-generation AI models.
This expansion follows the company's September 2025 funding round, which raised €1.7 billion and brought Dutch semiconductor equipment maker ASML on board as a key investor with an €1.3 billion investment for an 11% stake.
Mistral framed the investment as a move toward European technological independence. The company described it as "a major step toward Europe's technological independence" and "a completely European AI solution".
The French startup, founded in April 2023 by former Meta and Google researchers, has positioned itself as Europe's primary challenger to U.S. AI giants like OpenAI and Anthropic, focusing on enterprise clients rather than consumer chatbots.
That funding round valued Mistral at €11.7 billion. Chief executive Arthur Mensch has stated the company expects its revenue to exceed €1 billion this year, representing substantial growth from its position a year earlier.
Mistral's annualized revenue reportedly reached "north of $400 million" compared to $20 million a year ago, with an enterprise customer base now exceeding 100 companies including banking giant HSBC.
EcoDataCenter will design, build, and operate the new facilities, which will house advanced computing power required to train and run Mistral's AI models.
The partnership represents one of Sweden's largest AI infrastructure investments to date, and the data center project in Borlänge will be fully powered by decarbonized energy.
Mistral's rapid ascent includes multiple major funding rounds and partnerships with companies like Nvidia and Databricks, with the Swedish expansion following earlier plans to build infrastructure in France as part of its commitment to European facilities.
