Mistral AI secures €3 billion in funding led by Samsung

Mistral AI has secured €3 billion in a Series D funding round, a move the company describes as “the most significant equity financing round ever conducted by a European technology firm.” The round was co-led by Samsung Electronics, the EU-backed Scaleup Europe Fund, and PSG Equity. This capital injection brings the French AI enterprise’s valuation to over €21 billion.

New investors in the round include Advent and the Grand Duchy of Luxembourg. Existing backers such as ASML, Nvidia, Salesforce Ventures, and Bpifrance also participated. Mistral intends to use the funds to expand frontier AI research, increase computational capacity, and support infrastructure investment and international growth.

The company is focusing on developing “sovereign, open-weight AI” to provide enterprises and governments with greater control over data and model governance. CEO Arthur Mensch stated that the company is on track to achieve $1 billion in annual recurring revenue by the end of the year.