LightOn, a French generative artificial intelligence (GenAI) startup, is set to make history by launching its initial public offering (IPO) on the Euronext Growth market in Paris. With shares expected to list in late November, this move will mark the company as the first GenAI startup in Europe to go public, underscoring the region’s growing ambition to become a global leader in artificial intelligence innovation.
LightOn is a cutting-edge generative AI company specializing in large language model technology. Founded in France, the company provides advanced AI solutions to businesses and government entities, driving innovation and fostering the next generation of digital transformation.
LightOn, known for its large language model (LLM) software, has already built a strong client base, including major corporations and the French government. The company’s IPO will be a significant milestone, as it paves the way for a new generation of AI startups in Europe looking to access public capital. Unlike other prominent European AI companies like Mistral (France) and DeepL (Germany), which have chosen to remain private, LightOn is breaking new ground by listing on the stock exchange.
This move aligns with France’s broader strategy to establish itself as Europe’s AI hub, a key part of the nation’s efforts to close the innovation gap with the U.S. and the U.K., which have long dominated the AI landscape. The French government has already made significant strides, with major players such as Alphabet’s Google opening a dedicated AI hub in the country earlier this year.
“This IPO presents a rare opportunity for investors to directly participate in the growth of a French tech champion that has already proven its ability to deploy AI solutions both domestically and internationally,” said LightOn co-CEOs Igor Carron and Laurent Daudet in a statement.
France has been ramping up efforts to position itself at the forefront of the AI revolution. President Emmanuel Macron has set an ambitious goal of seeing at least 100 “unicorn” tech companies emerge from the country by 2030, up from just 27 currently. The IPO of LightOn is part of this larger push, demonstrating France’s growing AI sector and its increasing role in the global tech ecosystem.
The pan-European stock exchange Euronext, which is hosting the LightOn listing, has seen an uptick in tech companies preparing for IPOs, according to CEO Stéphane Boujnah. This signals a broader trend in Europe, where innovation in the tech sector is beginning to attract more attention from investors.
The shares in LightOn’s IPO will be priced at €10.35 per share, with the company being valued at approximately €50 million. In addition to the IPO, LightOn is raising an additional €10.4 million ($11.2 million) through a capital increase to fuel its future growth. The company aims to achieve a revenue target of €40 million and an EBITDA margin of 40% by 2027.
The subscription period for the IPO will run from November 8 to November 20, with shares expected to begin trading on Euronext Growth on November 26.
Investors have until November 20 to subscribe to LightOn’s IPO, with settlement delivery scheduled for November 25. The first day of trading will take place the following day, marking a new chapter for this pioneering AI startup as it takes its place on the European financial stage.
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