Mistral AI has banked the biggest equity round in European technology history, raising EUR 3B at a valuation above EUR 21B.
Samsung Electronics led the Series D, backed by EQT’s Scaleup Europe Fund and repeat investor PSG Equity. At current exchange rates the raise is worth about $3.6B, setting the Paris lab’s value near $24B.
The capital is earmarked for compute, infrastructure and commercial growth, and Mistral has restated a pledge to stand up 1 GW of European capacity by 2030. Business now spans 20 countries.
Sovereignty sits at the center of the pitch. The lab runs third-party open-weight models, Chinese ones among them, and hands customers a regional choice for query processing, courting governments and enterprises that want to own their models and data rather than rent a consumer brand.
Samsung gets a window into Europe’s flagship lab as it pushes AI memory chips, and France’s president, Emmanuel Macron, welcomed the investment publicly.
