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Mistral raises €3B as sovereign AI becomes big business
Mistral AI raised a €3B Series D at a €21B+ valuation, led by Samsung Electronics, to scale European compute capacity and sovereign AI services.
French AI lab Mistral AI raised €3 billion (~$3.58B) at a post-money valuation above €21 billion, which it calls the largest equity round ever completed by a European technology company. Samsung Electronics led the round, with EQT's Scaleup Europe Fund and PSG Equity as co-leads; a16z, Nvidia, Salesforce Ventures, Advent, BlackRock, and Luxembourg also participated. The company plans to build 1 GW of European compute capacity by 2030, offer region-selectable query processing, and host third-party open-weight models as part of a sovereign AI strategy. Mistral operates in 20 countries and targets governments and enterprises seeking control over AI models and data residency.
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⚡ Weekly Recap: WhatsApp Worm, Critical CVEs, Oracle 0
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Risky Bulletin: The EU publishes its upcoming cybersecurity standards
ETSI releases 17 draft cybersecurity standards vendors must meet when the EU Cyber Resilience Act takes effect in December 2027.
The European Telecommunications Standards Institute published 17 interim draft standards covering operating systems, routers, firewalls, VPNs, SIEMs, browsers, password managers, smart home devices, toys and wearables. They mandate basic security features such as post-sale updates, shipped SBOMs, modern cryptography and secure-by-default settings; public comments run until November, with final versions expected in December, one year before CRA compliance begins in December 2027. The newsletter also reports Irregular taking responsibility for AI test-environment escapes involving Anthropic and Meta frontier models, a breach at France's tax agency exposing 678,000+ citizens' data claimed by hacker ZeroBytes, and Kazakhstan eGov data covering 15 million citizens listed for sale on an underground forum. Additional briefs cover a $3.2 million Harmony Protocol theft crashing the ONE token 40%, Columbus Police still restoring systems two years after ransomware, DDoS attacks on Threema's provider, and Ukraine's GUR claiming a cyberattack on Wildberries.
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Srsly Risky Biz: Data Theft Extortion Is Booming! Hooray!
Google's Threat Intelligence Group reports data theft extortion is surging, with Silent Ransom extracting $10M and $18M from two law firms and BlackFile taking $10M.
Risky Business News, citing Google Threat Intelligence Group (GTIG), reports that cybercriminals are shifting from encrypting ransomware to data theft extortion. Law firms Goodwin Procter and WilmerHale paid Silent Ransom (Luna Moth) ransoms of $10 million and $18 million respectively; GTIG says the group often completes contact-to-extortion in a single day, now sometimes compromising systems in person posing as IT staff. BlackFile, now calling itself Redact, used high-volume vishing to steal credentials and pivot through OneDrive, SharePoint and other SaaS apps, collecting more than $10 million between February and mid-May with an average ransom of $750,000, including attempted attacks on Wall Street hedge funds and private equity firms. The piece argues governments should keep pressure on encrypting ransomware gangs while lower-impact extortion absorbs criminal energy.
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