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.