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[TECHNOLOGY] · France, South Korea, United States · 93 sources

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Mistral AI raises 3 billion euros in record European funding round

Mistral AI, the French artificial intelligence startup, has secured 3 billion euros in a Series D funding round, bringing its valuation to over 21 billion euros. This transaction marks the largest equity fundraising ever completed by a European technology company.

The funding round was led by Samsung Electronics, with co-leads including the EU-supported Scaleup Europe Fund (managed by EQT) and existing investor PSG Equity. Other participants included NVIDIA, ASML, and various international venture capital firms.

Mistral plans to utilize the capital to expand its frontier AI research, scale compute capacity for training models, and build proprietary infrastructure, including dedicated data centers. The company aims to increase its directly controlled computing power by approximately 100% over the next five years to reduce dependency on third-party providers.

Strategically, Mistral focuses on open-weight models to offer technological sovereignty and data control for enterprises and governments. The company is also expanding its international footprint, targeting growth in markets such as the United States and India, while aiming for 1 billion euros in annualized revenue by 2026.

Entities

ASML · Arthur Mensch · BlackRock · EQT · Mistral · Mistral AI · Nvidia · PSG Equity · Samsung Electronics · Scaleup Europe Fund

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