French AI startup Mistral grows revenue with major deal with CMA CGM

Paris-based generative AI startup Mistral has signed a €100 million multi-year agreement with CMA CGM, a French global leader in shipping and logistics. The deal aims to explore new AI applications within CMA CGM's operations and create bespoke AI models and agents tailored to their needs.

The use of AI in the maritime industry is on the rise, with companies leveraging the technology for various purposes, including route optimization, cargo management, and ship maintenance. According to a report by Orca AI, companies could potentially save up to $100,000 in fuel costs per vessel annually by using AI-optimized travel routes.

The partnership, which spans five years, will involve Mistral deploying a specialized team to CMA CGM's headquarters in Marseille, France.

CMA CGM, one of the largest players in global shipping and logistics, also invests in Mistral and owns the media group CMA Média, which operates French media outlets such as BFM TV.

Under this collaboration, Mistral will develop AI models for a variety of use cases across both companies. Founded in 2023, Mistral has quickly positioned itself as a leading competitor in Europe’s AI space, aiming to challenge major U.S. players like OpenAI.

This deal is notable in the context of concerns regarding the lack of significant investments by Europe’s large corporations in local tech companies, which is seen as a crucial factor for strengthening the region's startup ecosystem.

Mistral CEO Arthur Mensch emphasized that the partnership is designed to demonstrate how AI can be integrated into organizations to enhance Europe’s competitive edge.

The deal also provides a major revenue boost for Mistral, whose annual recurring revenues (ARR) reached €30 million in 2024.