Mistral AI Plans to Raise €3B to Boost Valuation

Catch up on the top artificial intelligence news and commentary by Wall Street analysts on publicly traded companies in the space with this daily recap compiled by The Fly.FUNDING DISCUSSIONS:French startup Mistral AI is in talks to raise around EUR 3B, or $3.5B, at a valuation of roughly EUR 20B, according to people familiar with the discussions, Bloomberg's Yazhou Sun, Mark Bergen, and Benoit Berthelot. The funding would provide "Europe's AI champion" with a cash injection as it competes in a costly computing race against competitors in the U.S. and China. Discussions with investors are still at an early stage and the terms may change, the people said. The valuation may go higher depending on investor demand, they added.CHINESE CLIENTS:Nvidiahas begun pitching its new "Vera" central processors for AI data centers to Chinese clients, Reuters, three sources familiar with the matter said. The processors will be available as soon as August, which is when orders can begin being placed. Nvidia is pivoting the new product to revive its rapidly declining fortunes in China.AI HEALTHCARE MODEL:Nvidia and Abridge, maker of an AI note-taking app for doctors, are training an AI model for clinical conversations using de-identified data and Nemotron models, The Wall Street Journal's Belle Lin. This collaboration aims to improve clinical decision support and documentation, and draws upon the cost-effectiveness of open models, Lin writes. "There's an opportunity now to take these models and adapt them with this clinical intelligence at a much earlier stage of model development," according to Kimberly Powell, Nvidia's vice president of healthcare.COLLABORATION:SharonAI Holdingsannounced the signing of a six-year AI infrastructure compute collaboration with Nvidia. Under the terms of the agreement, Nvidia and Sharon AI are collaborating to enable 72 megawatts of new data center capacity in Australia. The companies will deploy Nvidia's DSX AI factory design, scaling up to 40,000 Grace Blackwell GB300 GPUs to serve growing demand from AI startups, enterprises, and university researchers. The collaboration is structured so that Sharon AI can commit to large-scale Nvidia infrastructure while aligning economics through a revenue-sharing and credit-support model. Sharon AI will sell Nvidia-powered cloud services, and Nvidia will earn both standard product revenue and a share of the cloud revenue on the supported capacity. This structure accelerates adoption of Nvidia platforms among customers that historically lacked access to capital-intensive AI infrastructure, while giving Sharon AI a capital-efficient path to scale and providing Nvidia with a recurring, usage-linked earnings stream.