Mistral raises three billion euros, valuation tops 21 billion euros
Samsung leads the largest equity funding round ever completed by a European tech company. Nvidia and Salesforce join in again.
Illustration · AI-generated (AI IN LIFE)
At a glance
- Funding round: three billion euros, Series D
- New valuation: over 21 billion euros
- Led by Samsung, alongside Scaleup Europe Fund (EQT) and PSG Equity
- Existing investors a16z, Nvidia, and Salesforce Ventures participated again
- New investors: Advent and BlackRock
French AI startup Mistral has closed a Series D funding round worth three billion euros. The valuation of the company, founded only in 2023, now exceeds 21 billion euros — the largest equity funding round ever completed by a European technology company.
The round was led by South Korean electronics giant Samsung, alongside the Scaleup Europe Fund managed by EQT and existing investor PSG Equity. Previous backers a16z, Nvidia, and Salesforce Ventures also participated again, joined by new investors including Advent and BlackRock.
Mistral plans to use the fresh capital to expand its own computing capacity, infrastructure, and product development, while accelerating commercial and international growth. Founded by former Google DeepMind and Meta AI researchers, the company continues to position itself as Europe's counterweight to American players like OpenAI, with a particular focus on sovereign, open-weight AI models.
FAQ
What does sovereign AI mean?
It refers to countries or regions building their own independently controlled AI infrastructure and models, rather than depending entirely on US or Chinese providers.
How old is Mistral?
The company was founded in 2023, making it just over three years old.
What makes this round significant?
It's the largest equity funding round ever completed by a European technology company.
