Mistral's valuation soared from $2.2B to $24B in under three years, and one observer now calls it underpriced
smlpth · x · 2026-11-04
Blogger smlpth recalls that when Mistral hit a $2.2B valuation in December 2023, he thought it was overpriced. By September 2026 it reached $24B — and he now argues the company may actually be underpriced, with room to grow by multiple factors.
The reversal illustrates how rapidly AI startup valuations have inflated (10x in under three years) and the market's continued bullishness on Europe's leading model lab.
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