France's AI company Mistral buys cloud service startup Koyeb

PARIS, Feb ‌17 (Reuters) - French ​artificial ​intelligence company Mistral AI said on Tuesday it had ‌agreed to buy cloud computing service ⁠startup Koyeb based near Paris for an ‌undisclosed amount.

"With this first ‌acquisition, Mistral AI takes a significant step forward in its mission ​to build a full-stack AI champion and advance cutting-edge AI infrastructure," ⁠Mistral said in a statement.

Koyeb, which is registered ​in Paris commune Boulogne-Billancourt, provides cloud services without servers. Its 13 ​employees and three ‌co-founders will join Mistral's team.

Mistral, which was valued at $11.7 billion ⁠in September after chipmaking equipment supplier ASML became a shareholder, is considered ⁠Europe's largest AI company.

Last week, the company announced ​a 1.2 billion euro ($1.42 billion) investment in new data centres in Sweden as part ‌of an effort to keep its technology and cloud ‌servers in Europe, unlike its main ⁠competitors such as ‌U.S.-based Open ​AI.

($1 = 0.8455 euros)

(Reporting by Inti Landauro, Editing by Charlotte Van ‌Campenhout)

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