$24 billion valuation as Samsung leads €3 billion funding for Mistral AI
Paris-based Mistral raised €3 billion in a Series D round, led by Samsung and the Scaleup Europe Fund, reaching a post-money valuation of over €21 billion.
Mistral announced it raised €3 billion ($3.5 billion) in fresh funding on Tuesday. The round was jointly led by Samsung Electronics, the EU-backed Scaleup Europe Fund managed by EQT, and existing investor PSG Equity. Mistral stated the investment sets a post-money valuation of more than €21 billion ($24 billion). This marks the largest equity fundraise ever completed by a privately owned European technology firm.
Mistral's CEO Arthur Mensch confirmed the money would fund infrastructure growth. He told CNBC that compute capacity they own will grow around 100% in five years to train bigger models and rent space to others. The company is building data centers in France, with facilities operating outside Paris and another under construction in Sweden. Mistral spends approximately €4 billion annually on data center operations.
Analysts note Mistral aims to compete with OpenAI and Anthropic. CFO Johan Bergqvist stated the firm remains Europe's second-highest-valued private tech group but timing for a future IPO is currently undecided.
