Mistral raises about €3B led by Samsung at a valuation above €21B

Mistral AI

Mistral AI raised €3 billion in a Series D at a post-money valuation above €21 billion, led by Samsung Electronics with EQT's Scaleup Europe Fund and PSG Equity as co-leads. Mistral calls it the largest equity round ever raised by a European tech company. The money goes to frontier research, training compute, infrastructure and international expansion.

• New investors: Advent, BlackRock-managed funds and the Grand Duchy of Luxembourg; existing backers include ASML, NVIDIA, a16z, General Catalyst and Lightspeed
• Mistral sells "sovereign AI": open-weight models plus its own compute and products, so customers keep control of data and models
• It says it works in 20 countries with 125+ large enterprises, including Airbus, ASML and HSBC