Mistral AI raises €3 billion in Samsung-led Series D funding round
Mistral AI, a European artificial intelligence company based in Paris, has raised €3 billion ($3.5 billion) in its latest Series D funding round led by Samsung Electronics and co-lead partners Scaleup Europe Fund (EQT) and PSG Equity. The fundraising elevates Mistral's valuation to over €21 billion, marking the largest equity raise ever for a European tech firm. The capital will be used to build and own data centers while also renting additional computing capacity. CEO Arthur Mensch stated that Mistral plans to grow its owned compute by 100% in five years and train larger AI models. The company is on track to exceed $1 billion in annual recurring revenue this year. Mistral serves over 125 enterprise clients across Europe, including Airbus, ASML, and HSBC. It positions itself as a European alternative to dominant U.S.-based or Chinese AI firms by offering open-weight models and 'sovereign AI' solutions that prioritize customer data control.
Topics: AI funding round Mistral AI Samsung Electronics Series D