Mistral AI Stock, Valuation, and IPO Potential

Explore potential ways to own Mistral AI stock before the IPO. Get access to select pre-IPO startups like Databricks, Anthropic, and Anduril via the Fundrise Innovation Fund. 

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Recent Mistral AI News

09/11/2024: Mistral releases Pixtral 12B, its first multimodal model
06/11/2024: Mistral AI raises $640 million
05/29/2024: Mistral releases Codestral generative AI model for code
05/09/2024: Mistral AI raising at a $6B valuation
Older news…

About Mistral AI

Mistral AI is a French open-source artificial intelligence (AI) startup that has developed a large language model (LLM) that competes with OpenAI and Anthropic. The company’s most recent model, Mistral-Large, was released in February 2024.

Although its models are not as large as those of other dominant LLMs (as measured by parameters), they rival the capabilities of other LLMs in their ability to reason—a key trait in AI. Mistral AI has a small team of engineers but significant funding and talent.

The company exemplifies a needed divergence from Silicon Valley AI dominance, as it is based in Paris and hires top European engineers. 

Arthur Mensch, Timothée Lacroix, and Guillaume Lample have all worked for U.S. tech companies, including Alphabet and Meta (Facebook). They launched Mistral AI in April 2023 and quickly raised private capital from some of the world’s top venture capital firms. 

In February 2024, the company partnered with Microsoft to host its AI models as-a-service on the Azure cloud, along with “Le Chat” a competing user-facing product similar to ChatGPT. 

Mistral AI takes its name from the cold northwesterly winds of Southern France. 

Here’s a March 2024 interview with Mistral AI founder Arthur Mensch hosted by Sequoia Capital:

Ownership

Mistral AI is a venture-backed private company. Shareowners include the founder, employees, and multiple prominent global VCs. 

The latest funding round raised  €385 million ($415 million) in December 2023. 

Prominent venture capital investors include Lightspeed Venture Partners, Andreessen Horowitz, General Catalyst, Redpoint Ventures, Index Ventures, Eric Schmidt (Google), Xavier Niel, BNP Paribas, JCDecaux Group, Databricks, Nvidia, Microsoft, and Salesforce.

Valuation

The latest confirmed Mistral AI valuation is $6.0 billion based on the $640 million funding round completed in June 2024. 

Monitor the pre-IPO marketplace Hiive for the latest private share availability.

IPO Potential

The Mistral AI IPO date is currently unknown and unlikely in the next few years. Leadership has not commented on the startup’s long-term plans.

The company was only founded in April 2023. It is still building AI models and refining its technology, let alone investing in the corporate infrastructure required to become a public company. 

An eventual IPO is possible, but an acquisition may be a more immediate and likely outcome at this stage on the AI gold rush and big tech’s race for dominance. 

If the company decides to pursue a public listing, watch for reporting about exploring a possible IPO with investment banks or a confidential S-1 filing with the SEC.

Bookmark this page for the latest developments.

How to Invest in Mistral AI Stock

Mistral AI is a relatively new startup with under 50 employees as of March 2024 and a valuation of only $2 billion. Therefore, acquiring direct ownership shares will be challenging until the company matures, hires more employees, and raises more private funds.

Even when that happens, the company is Paris-based, which may place some shareowners under different rules than a typical U.S. venture-backed startup. 

Below is a list of ideas for acquiring Mistral AI stock before an IPO or acquisition. However, none of these are sure things at this stage. 

1. Monitor pre-IPO marketplaces for Mistral AI stock availability

Investors can monitor pre-IPO investing platforms such as Hiive, EquityZen, Forge Global, and Linqto for Mistral AI share availability as it grows. 

These platforms allow shareholders to liquidate shares when there is limited liquidity elsewhere (common for private companies).

They allow accredited retail investors to invest, often at valuations below the more recent funding rounds. 

Most investment opportunities start above a $10,000 minimum, and the minimum is much higher in many cases.

Investors can sign up for free access to pre-IPO data and alerts and monitor startup share availability.

Check out our list of top pre-IPO investing platforms for current share availability across platforms. 

2. Monitor venture capital funds for access

Two well-known venture capital funds have not yet invested in Mistral AI. However, they have invested in one of its rivals, Anthropic. 

Each fund includes AI in its investment thesis. Given the opportunity to invest in Mistral AI, either could become future investors. Monitor the holdings of each fund. 

The Fundrise Innovation Fund (review) gives investors access to pre-IPO companies. Retail investors can own Databricks (which has invested in Mistral AI), Canva, Anthropic, Anduril, and other companies through the fund. 

Mistral AI is not part of the portfolio at this time.

The fund requires U.S. residency. I have not seen similar opportunities for non-U.S. residents. 

Please note: This is a testimonial in partnership with Fundrise. We earn a commission from partner links on AccessIPOs.com. All opinions are my own.

3. Own the stock indirectly via a corporate venture investors

Multiple public companies have purchased pre-IPO stakes in Mistral AI. Retail investors can own these stocks to gain indirect investment exposure into the startup. 

The known companies that have invested in Mistral AI include:

• Nvidia
• Microsoft
• Salesforce

Unfortunately, these public companies are very large. Therefore, even if the value of Mistral AI rises dramatically over the coming years, it will have a limited impact on the prices of these public companies. 

Indirect startup investing is a low-risk way to gain investment exposure to private companies like Mistral AI, but there is little upside to this strategy. 

Frequently Asked Questions (FAQs)

Is Mistral AI Publicly Traded?

No. Mistral AI is not publicly traded. It is a private venture-backed French startup. 

What is the Mistral AI Stock Symbol? 

There is no Mistral AI stock symbol yet because it is a private company.

Here are a few Mistral AI ticker suggestions that are available in the U.S.: 

• MTRL
• MSTA
• MAI

What is the Mistral AI Stock Price?

A public Mistral AI stock price does not exist because the company is private. 

Where is the Mistral AI F-1 Filing?

Mistral AI has yet to release an F-1 filing to the public. There is no evidence of a confidential F-1 filing yet. 

It is unclear where the deal would transpire if Mistral AI were to IPO.

The Mistral AI IPO is not yet in the pipeline of likely IPOs.

News of a confidential or public U.S. filing would kick off the IPO process, suggesting it could occur within the following two to six months.

When the company releases the F-1 filing to investors, we’ll link to and embed the document on this web page.

In the meantime, you can check out the most recent F-1 filings in our S-1 filings feed. 

News Archive

04/16/2024: Mistral AI in Talks to Raise at $5 Billion Valuation
03/14/2024: Databricks invests in Mistral Series A
02/27/2024: Microsoft made a $16M investment in Mistral AI
02/26/2024: Mistral AI releases a new model and its own chat assistant
02/26/2024: Meet the French startup hoping to take on OpenAI
12/08/2023: French AI start-up Mistral secures €2bn valuation
06/13/2023: Four-week-old AI start-up raises €105 million seed round

Conclusion

Retail investors are increasingly drawn to private  companies capitalizing on significant economic and technology trends like artificial intelligence. Mistral AI has established itself as the leading European company in the field, competing with the most innovative companies in Silicon Valley. 

While the AI market is competitive and moving rapidly, Mistral AI stands out, having developed a model with advanced reasoning and intelligence using fewer parameters — meaning their models require less computing power than some of the larger LLMs.

Retail investors interested in this emerging trend may hit roadblocks while seeking private Mistral AI shares.

Although pre-IPO investing platforms have broadened access for retail investors, venture capital opportunities are still largely reserved for accredited investors. Direct ownership shares in Mistral AI may be difficult to acquire until more shares are available and liquidity increases as the company matures.

Being a foreign company may increase difficulties for U.S. investors looking to acquire shares. 

Those considering investing in Mistral AI should temper their expectations, as the IPO or any potential exit event is likely years away. Nevertheless, if you’re inclined to pursue IPO shares or early equity in Mistral AI, proceed with caution and be prepared for the risks involved.

Best of luck if you decide to invest in Mistral AI before its IPO. Invest in pre-IPO and IPO companies with caution. 

* Disclosure: The web page contains affiliate links from our partners. If a reader uses links in this article to open an account or buy a service, Access IPOs will be compensated at no additional cost to the reader. Opening an account with a broker that provides access to IPOs does not guarantee the customer allocations of specific IPOs. The author is long the Fundrise Innovation Fund and the ARK Venture Fund.