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Company pair · AI
VS

Mistral AI vs Thinking Machines Lab: Valuation, Funding, Trajectory

AI Both private FR · US No Canborsa market

Mistral AI and Thinking Machines Lab are often weighed against each other in AI.

On this pageSide by sideValuation marksWhat each disclosesVerdictFAQ
Mistral AIPRIVATE · FR
Thinking Machines LabPRIVATE · US
VS
Last valuation$23.2B$12B
Basis Rumored Post-money
As ofJun 2026Jul 2025
Founded20232025
Employees≈1,000≈100
On CanborsaNo marketNo market
At a glance
$23.2B
Mistral AIRumored, Series D funding · Jun 2026
$12B
Thinking Machines LabPost-money, Seed / initial funding round · Jul 2025
Different bases — the numbers stay side by side
Gap
0 of 2
On CanborsaNeither company has a market
VS
Head-to-head · field by field

Mistral AI vs Thinking Machines Lab — side by side

Field
Mistral AIPRIVATE · FOUNDED 2023
Thinking Machines LabPRIVATE · FOUNDED 2025
VS
Last valuation
$23.2B Rumored
$12B Post-money
Valuation date
1 Jun 2026
15 Jul 2025
Valuation basis
Rumored
Post-money
Latest round
Series D funding
Seed / initial funding round
Round size
$3.5B
$2B
Round lead
Unknown
Andreessen Horowitz
Named investors
ASML Andreessen Horowitz Lightspeed Venture Partners General Catalyst
Andreessen Horowitz Nvidia AMD Cisco
Founded
2023
2025
Employees (est.)
≈1,000
≈100
Sector & HQ
Artificial intelligence / large language models · 🇫🇷 FR
Artificial intelligence — foundation models and fine-tuning infrastructure · 🇺🇸 US
Status & market
Private — no Canborsa market
Private — no Canborsa market
Valuation · both companies on one scale

Valuation marks

Each bar is the last disclosed mark — $23.2B for Mistral AI (rumored, Jun 2026) and $12B for Thinking Machines Lab (post-money, Jul 2025).

Mistral AI
$23.2BRumored · Jun 2026
Thinking Machines Lab
$12BPost-money · Jul 2025
MISTRAL AI · $23.2B · JUN 2026THINKING MACHINES LAB · $12B · JUL 2025
Mistral AI vs Thinking Machines Lab · what each company discloses

What each company discloses, and what it leaves out

Mistral AIPRIVATEAI · FR · 2023
+Last disclosed mark $23.2B — rumored, Jun 2026.
+Founded 2023 .
+≈1,000 employees.
+Latest round: Series D funding, $3.5B raised, led by Unknown.
Thinking Machines LabPRIVATEAI · US · 2025
+Last disclosed mark $12B — post-money, Jul 2025.
+Founded 2025 .
+≈100 employees.
+Latest round: Seed / initial funding round, $2B raised, led by Andreessen Horowitz.
Verdict

Verdict

The $23.2B tells you…
The $12B tells you…
What an investor paid for newly issued shares — a primary round, priced post-money.
How much capital arrived with it:$2B, led by Andreessen Horowitz in Jul 2025.
A dated print: it moves only when a newer round is announced.

A rumored print and a post-money print are priced by different buyers under different terms, so the two numbers stay side by side, each with its own chip, and no ratio is scored. Both are private: there is no public quote and no Canborsa market on either name.

Frequently asked questions

What industries are Mistral AI and Thinking Machines Lab in?›

Mistral AI's sector is Artificial intelligence / large language models; Thinking Machines Lab's sector is Artificial intelligence — foundation models and fine-tuning infrastructure.

What is Mistral AI's valuation versus Thinking Machines Lab's?›

Mistral AI was last valued at $23.2B in June 2026, and Thinking Machines Lab at $12B in July 2025.

Which investors backed Mistral AI and Thinking Machines Lab?›

Unknown led the round for Mistral AI; NVIDIA led for Thinking Machines Lab.

How old are Mistral AI and Thinking Machines Lab?›

Mistral AI launched in 2023; Thinking Machines Lab launched in 2025.

What's the IPO status of Mistral AI and Thinking Machines Lab?›

Mistral AI's status is private; Thinking Machines Lab's status is private.

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