Mistral AI SAS (French: [mistʁal]) is a French artificial intelligence (AI) company, headquartered in Paris. Founded in 2023, it has open-weight large language models (LLMs), with both open-source and proprietary AI models. As of 2025 the company has a valuation of more than US$14 billion.

The company is named after the mistral, a powerful, cold wind in southern France, a term which originates from the Occitan language.

Mistral AI was established in April 2023 by three French AI researchers, Arthur Mensch, Guillaume Lample and Timothée Lacroix.

Mensch, an expert in advanced AI systems, is a former employee of Google DeepMind; Lample and Lacroix, meanwhile, are large-scale AI models specialists who had worked for Meta Platforms.

The trio originally met during their studies at École Polytechnique.

In June 2023, the start-up carried out a first fundraising of €105 million ($117 million) with investors including the American fund Lightspeed Venture Partners, Eric Schmidt, Xavier Niel and JCDecaux. The valuation was then estimated by the Financial Times at €240 million ($267 million).

On 10 December 2023, Mistral AI announced that it had raised €385 million ($428 million) as part of its second fundraising. This round of financing involves the Californian fund Andreessen Horowitz, BNP Paribas and the software publisher Salesforce.

By December 2023, it was valued at over $2 billion.