Samsung leads Mistral's €3 billion Series D round
The round values the French AI company at more than €21 billion, with the money earmarked for compute, infrastructure and open-weight models.
Symbolic image: a funding agreement is signed at a conference table while server rack status lights blink behind the glass partition.
Mistral has raised €3 billion in a Series D round led by Samsung Electronics, at a post-money valuation of more than €21 billion.
At a glance
- Size: €3 billion Series D at a post-money valuation above €21 billion.
- Samsung Electronics led; the EQT-managed Scaleup Europe Fund and PSG Equity co-led.
- New backers: Advent, BlackRock and the Grand Duchy of Luxembourg.
- Mistral cites 20 countries and more than 125 large enterprise customers, among them Airbus, ASML and HSBC.
- ASML led the earlier Series C; Mistral calls this the largest equity round by a European tech company.
Mistral has closed a €3 billion Series D at a post-money valuation of more than €21 billion. Samsung Electronics led the round, with the EQT-managed Scaleup Europe Fund and PSG Equity as co-leads. The company describes the deal as the largest equity fundraising round ever completed by a European technology company.
An industrial backer, again
Samsung is the second hardware manufacturer in a row to lead a Mistral round: ASML led the Series C. Advent, BlackRock and the Grand Duchy of Luxembourg come in as new investors. Returning shareholders include a16z, ASML, Bpifrance, DST Global, General Catalyst, Index Ventures, Lightspeed, NVIDIA and Salesforce Ventures.
Where the money goes
Mistral lists four uses: frontier research, more compute for training, infrastructure expansion, and faster commercial and international growth. No amount is attached to any of them. The announcement names no data center site, no megawatt figure and no timeline for new capacity.
The sovereignty pitch
What Mistral sells enterprises is control rather than raw capability: data boundaries, customizable models, private compute and auditable production systems, with open-weight models as the lever. Its product line spans Vibe, Vibe for Code, Studio, Forge and an AI Cloud, alongside models including Mistral OCR 4, Mistral Medium 3.5, Mistral Small 4 and Voxtral TTS. The company says it serves more than 125 large enterprises across 20 countries, naming Airbus, ASML and HSBC.
What we could not verify
The announcement carries no publication date and no quotes attributed to named executives. It does not break down ownership after the round, so how much of Mistral Samsung now holds is unclear. Only one independent source was available for this report, and these gaps could not be closed elsewhere.
FAQ
How much did Mistral raise?
€3 billion in a Series D round, at a post-money valuation of more than €21 billion.
Who led the Mistral Series D?
Samsung Electronics led, with the EQT-managed Scaleup Europe Fund and PSG Equity as co-leads.
Is Mistral still committed to open-weight models?
Open-weight models sit at the center of the announcement, but it names no upcoming releases or dates.
