Mistral AI

AI Foundation Models · Enterprise AI · Sovereign AI Infrastructure

Funding

Mistral raises €3B Series D led by Samsung, tops €21B valuation

The round marks Europe's largest tech equity raise ever, showing hardware giants betting big on homegrown AI independence from US clouds.

• Mistral AI closed a €3 billion Series D led by Samsung Electronics, with Scaleup Europe Fund (managed by EQT) and PSG Equity co-leading, pushing its post-money valuation past €21 billion.
• Founded in 2023 by former Google DeepMind and Meta researchers, Mistral builds open-weight AI models and a full-stack platform spanning compute, infrastructure and enterprise deployment.
• Mistral says the raise is the largest equity fundraising round ever completed by a European technology company, coming just three years after its launch.
• The Series D nearly doubles Mistral's valuation from its €1.7 billion Series C in September 2025, which had valued the company at €11.7 billion.
• Mistral now operates in 20 countries and serves more than 125 enterprise clients, including Airbus, ASML and HSBC, on its sovereign, open-weight AI stack.
• The company plans to build 200 megawatts of computing capacity across Europe by the end of 2027 and is targeting $1 billion in annualized revenue by year-end.
• The equity round follows an $830 million debt facility Mistral raised in March 2026 to buy Nvidia GPUs for its first dedicated data center.
• Samsung and other strategic backers putting fresh capital directly into a non-US foundation model lab signals growing demand for AI infrastructure independent of American cloud providers, even as cheaper open-weight Chinese models squeeze pricing across the industry.