French GenAI Startup LightOn: A Bright Spark on Euronext Growth

In the rapidly evolving landscape of artificial intelligence, a new player has emerged, captivating investors and setting a precedent for Europe's generative AI sector. LightOn, a French startup specializing in large language models, made a splash on Euronext Growth in Paris, raising €11.9 million in its initial public offering (IPO) and securing a market capitalization of €62 million. As the first European company dedicated exclusively to generative AI to go public, LightOn's IPO signals the growing appetite for AI technologies and the potential for France to become Europe's leading AI hub.

LightOn's generative AI platform, Paradigm, differentiates itself by focusing on large language models, enabling businesses to harness the power of AI for various applications, from content creation to predictive analytics. Its first-mover advantage, coupled with strong investor interest in AI technology, contributed to an oversubscription rate of 1.5 times, with individual investor demand amounting to €8.9m. This robust demand underscores the faith investors have in LightOn's innovative technology and its potential to generate consistent returns, even in an era of rising interest rates and economic uncertainty.



Since its debut, LightOn's share price has surged, buoyed by the company's unique value proposition and strong investor interest. With an offering price of €10.35 per share, LightOn raised €11.9m after the full exercise of the Extension Clause and before the potential exercise of the Over-allotment Option. The total demand amounted to 1,467,052 shares, representing a demand of approximately €15.2m. The trading volume has been robust, with investors showing strong interest in LightOn's generative AI technology.



LightOn's successful IPO sets a precedent for other AI startups looking to go public, fostering a more vibrant and innovative ecosystem for the AI sector in France and Europe. As the first generative AI company to go public in Europe, LightOn's IPO validates the growing interest and potential of AI technologies. With a market capitalization of €62 million, the company is well-positioned to attract further investment and accelerate its commercial momentum. The IPO also highlights France's ambition to become Europe's leading AI hub, with Emmanuel Macron aiming for at least 100 tech "unicorns" by 2030.

In conclusion, LightOn's IPO on Euronext Growth in Paris marks a significant milestone for the French tech industry and the AI sector. As the first generative AI company to go public in Europe, LightOn's IPO signals the growing interest and potential of AI technologies. With a market capitalization of €62 million, the company is well-positioned to attract further investment and accelerate its commercial momentum, ultimately transforming business practices and setting the stage for a more innovative AI ecosystem in Europe.