French artificial intelligence startup LightOn is preparing to become the first prolific artificial intelligence startup to go public in Europe.

LightOn aims to complete its initial public offering on the Euronext Growth market in Paris and list later in November. The company has grown in popularity recently by providing large language model (LLM) software to companies and the French government.

Although in many ways, LightOn’s strategy is similar to that of its counterparts The first artificial intelligence startup to go public in Europe will be. Similar European companies, such as France’s Mistral and Germany’s DeepL, prefer to remain private and raise money rather than go public, unlike LightOn.

More AI companies could go public in the future

France is positioning itself as Europe’s main AI hub to close the technology innovation gap with the US and UK. LightOn’s co-CEOs Igor Carron and Laurent Daudet stated that with the public offering they are offering investors the opportunity to partner with a successful technology initiative in France in this area.

Alphabet’s subsidiary Google also took an important step in French development in this area by opening an artificial intelligence center in France in February. As President Emmanuel Macron began his second term, he announced that he aimed to increase the number of billion-dollar technology companies in France to 100 by 2030. Stéphane Boujnah, CEO of Euronext, is also in the European Union There are many technology companies that are ready to go public. he emphasized.

LightOn will be offered to the public at 10.35 euros per share and the total value of the company is estimated at approximately 50 million euros. The expected capital increase of the public offering is estimated at EUR 10.4 million. The company aims for a turnover of 40 million euros and a profit margin of 40% by 2027.