Can You Invest in Mistral AI in 2026? Pre-IPO Details & Alternatives

Is Mistral AI publicly traded?

Mistral AI is not currently a publicly traded company. It was founded in May 2023 and has released several large language models, a chatbot, and an open-source platform that anyone can use.

The company held a highly successful seed funding round, and has followed that up with more funding rounds, which have brought in hundreds of millions of dollars. Reaching a valuation of $6 billion a little more than a year after its founding, Mistral AI is one of the most promising AI start-ups around.

Has Mistral AI announced an IPO?

It typically takes several years for a start-up to go from being founded to going public, so it's too early to speculate when Mistral might go public. Any guess at the timing of an initial public offering (IPO) would be just that -- a guess. Even OpenAI, the leading AI start-up, is still privately held, although its unique corporate structure complicates an IPO.

Mistral's valuation of $6 billion just a year after being founded is the latest example of how the AI boom is exhibiting some of the same characteristics as the dot-com era; a number of stocks seem to have rallied just because they have AI in their name.

It's possible that Mistral will follow in the footsteps of dot-com-era companies and go public soon, but the company seems to still be a long way from that, especially since it's easily able to raise money from venture capitalists and other investors. With that in mind, any talk of an IPO is premature at this point.

Can you buy Mistral AI stock?

Because Mistral AI is private, only venture capital firms and select institutional investors own shares. Retail investors will likely need to wait for an IPO or gain indirect exposure through publicly traded companies with stakes in AI development.

Another option is investing in large technology companies aggressively funding generative AI, such as Microsoft, or through AI-focused ETFs that hold a broad basket of AI-related stocks.

Is Mistral AI profitable?

Mistral AI is likely not profitable. As a private company, it does not disclose financial statements. Reported revenue estimates suggest modest early sales, while expenses are likely dominated by talent costs, cloud infrastructure, and ongoing model development. Profitability, if achieved, is likely years away.

However, after raising close to $1 billion, cash burn should not be a concern for the company.

The bottom line

There's no question that Mistral AI is one of the more exciting AI start-ups in the artificial intelligence industry. Alphabet and Meta, where its founders worked, are among the most respected companies in AI. It makes sense that venture capital investors are betting on this trio of founders. The company's seed round set a new record for European companies, and it did so remarkably quickly, just a month after being founded. It also raced to a valuation of $6 billion little more than a year after being founded.

However, it's too early to determine Mistral's chances of success.

The company is still building its business, developing its products, and investing in growth. Most of its valuation is attached to its potential at this point, and that's hard to value, especially in a rapidly evolving industry like artificial intelligence.

Mistral could become a major player in AI, and the deep pockets backing the company will certainly help. However, the company is still unproven, and up against several big tech companies that have been rapidly investing in AI since ChatGPT demonstrated its value to the world.

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