Former minister’s shares of €176 are now worth nearly €23 million

French politician turned AI investor hits the jackpot

It’s an investor’s dream. After investing a mere €176.10 in shares of the French start-up Mistral AI, a French former minister is looking at a share value of nearly €23 million – just two years later.

Mistral AI was founded in April 28, 2023. At the time, the CEO Arthur Mensch stated that the goal was to create a European leader in artificial intelligence. His partners were Timothée Lacroix and Guillaume Lample, both experts in digital language.

Just two years later, the company has raised €385 million from notable investors, including Salesforce, CMA CGM, BNP Paribas, and Nvidia, bringing its valuation to €2 billion following an earlier €105 million round in June.

Among the investors is Cédric O, France’s former Secretary of State for Digital Affairs, who, through his consulting firm Nopeunteo, acquired 17,610 shares for a mere €176.10. This investment has now reportedly surged to nearly €23 million in value.

While O has sold some shares as part of a strategic move to accommodate new investors, he remains actively involved. His participation in Mistral AI has raised eyebrows within the Generative Artificial Intelligence Committee, which aims to develop a robust AI sector in France. Concerns have emerged regarding potential conflicts of interest due to O's previous governmental role and his ongoing ties to the administration. He has notably been outspoken on the subject of EU regulations governing AI.

The High Authority for the Transparency of Public Life (HATVP) has advised O to exercise caution regarding his investments in the digital sector for three years post-tenure.

(Michael Leahy. Source Capital.fr. Photo: BoliviaInteligente / Unsplash)