“Joining the fray are tech giants Nvidia ( NVDA ) Corp and Salesforce ( CRM ) , contributing an additional €120 million in convertible debt.”
Mistral raised €450 million at a $2 billion valuation, led by Andreessen Horowitz, with its main product a 7B model released free under Apache 2.0. Nvidia’s €120 million in convertible debt is the tell. Nvidia lending money to a company that runs on Nvidia chips is customer financing with a press release. Europe’s AI champion is an American VC bet on an American chipmaker’s customer.