Mistral launches OCR 3 to digitize enterprise documents, touts 74% win rate and $2-per-1,000-page pricing

Mistral AI, the French artificial intelligence company valued at €11.7 billion, unveiled its third-generation optical character recognition model on Tuesday, positioning document digitization as the critical first step enterprises must take before realizing the full potential of generative AI.

The new model, called Mistral OCR 3, claims a 74% win rate against competing products when processing forms, scanned documents, complex tables, and handwritten content. Mistral priced the technology aggressively at $2 per 1,000 pages — with a 50% discount for batch processing — dramatically undercutting many established enterprise document processing solutions.

The release arrives at a pivotal moment for the two-year-old startup. Mistral has spent December on an aggressive product offensive, launching its Mistral 3 family of open-weight models, new coding tools called Devstral 2, and now OCR 3. The company faces intensifying pressure from American rivals flush with capital — OpenAI recently sold secondary shares at a reported $500 billion ...