Is Mistral worth $6bn?

Once upon a time, Mistral was Europe’s buzziest tech company — raising a huge €105m seed round in 2023 to build GenAI models and compete with the likes of OpenAI.But as the sector's matured, and we’ve seen application-focused AI startups like app maker Lovable and defence tech Helsing rise to the top of the hype pile, how is the Paris-based startup living up to its early promise?The company has won some big clients, announced partnerships with giants like Nvidia and grown substantial annual revenues, but do they justify its $6bn valuation?On this episode of Startup Europe — the Sifted Podcast, senior reporter and French tech correspondent Daphné Leprince-Ringuet tells host Amy Lewin what the company is focused on today and whether she thinks it’s moving fast enough against ever-increasing competition.