Mistral has secured €3 billion in Series D funding at a post-money valuation exceeding €21 billion, marking the largest equity fundraising round completed by a European technology company, according to the company. Samsung Electronics led the round, joined by co-leads Scaleup Europe Fund (managed by EQT) and existing investor PSG Equity.
The funding will support Mistral’s expansion of frontier AI research, compute capacity for training models, and infrastructure development. The company currently operates across 20 countries and supports over 125 global enterprises, including Airbus, ASML, and HSBC.
Mistral positions itself as addressing a shift in how organizations approach AI deployment. According to the company, the initial focus of generative AI was on building the most powerful models. Organizations and governments are now prioritizing how to harness AI capabilities while maintaining control over infrastructure and data governance, according to Mistral’s statement.
Mistral claims to be the only AI company building a complete stack encompassing open-weight models, infrastructure, compute capacity, and production-ready products. The company describes this as a “sovereign AI” approach, which it defines as retaining control across four dimensions: data remaining within organizational boundaries, customizable models, private and predictable compute, and fully controllable and auditable production systems.
The funding round attracted investors from Europe, Asia, and North America. New investors include Advent, funds and accounts managed by BlackRock, and the Grand Duchy of Luxembourg. Existing investors participating include a16z, ASML, Belfius, BNP Paribas CIB, Bpifrance, Carmignac, DST Global, Eurazeo, General Catalyst, Headline, Hillspire, Index Ventures, Korelya Capital, Lightspeed, NVIDIA, Phoenix Court’s Solar fund, and Salesforce Ventures.
Mistral’s funding trajectory includes Series C backing led by ASML, and the Series D led by Samsung Electronics reflects what the company describes as growing confidence in its approach for deploying state-of-the-art AI in complex environments while maintaining organizational control.
Key facts
- Mistral raised €3 billion in Series D funding at a valuation exceeding €21 billion
- Samsung Electronics led the round, joined by Scaleup Europe Fund and PSG Equity
- The round represents the largest equity fundraising by a European technology company
- Mistral operates in 20 countries and supports 125+ global enterprises including Airbus, ASML, and HSBC
- The company describes its approach as a ‘sovereign AI’ stack with open-weight models and infrastructure