In this episode, we explore Mistral AI's groundbreaking launch of Magistral, Europe’s first major reasoning model, aiming to rival offerings from OpenAI and Google. We dive into the open-source Magistral Small and enterprise-focused Magistral Medium, examining their multilingual reasoning capabilities, transparent training methods, and the novel RLVR technique that powers them. With strong benchmark results and backing from Andreessen Horowitz and Emmanuel Macron, Mistral positions itself as a serious contender in global AI. We also discuss early user reactions, performance trade-offs, and the broader implications for European AI sovereignty and open-source innovation.