Mistral AI raises €3 billion Series D led by Samsung Electronics at €21 billion-plus valuation, Europe's largest-ever tech equity round

French AI lab Mistral AI closed a €3 billion (~$3.58B) Series D led by Samsung Electronics at a post-money valuation above €21 billion, which it calls the largest equity round ever completed by a European tech company.

Mistral AI raised €3 billion (~$3.58 billion) in a Series D round at a post-money valuation above €21 billion, roughly double its prior ~€12 billion valuation set after ASML's September 2025 investment. Samsung Electronics led the round, with EQT's Scaleup Europe Fund and PSG Equity as co-leads; investors participating include a16z, Nvidia, Salesforce Ventures, Advent, BlackRock-managed funds, and Luxembourg. The company frames the round as the largest equity round ever completed by a European technology company. Mistral plans to use the capital to scale its sovereign AI strategy: building 1 GW of European compute capacity by 2030, offering region-selectable query processing, and hosting third-party open-weight models, targeting governments and enterprises that want control over AI models and data residency. The company previously took an $830 million loan in March to fund its own data centers, operates in 20 countries, and serves 125+ enterprise customers including Airbus, ASML, and HSBC. Competitively, Mistral Medium 3.5 trails open-weight rivals like Qwen and Kimi and does not compete with top closed US models, so the strategy leans heavily on enterprise and sovereign sales.

• €3 billion (~$3.58B) Series D round, described by Mistral as the largest equity round ever completed by a European tech company
• Post-money valuation above €21 billion, roughly double the ~€12 billion valuation after ASML's September 2025 investment
• Round led by Samsung Electronics; co-led by EQT's Scaleup Europe Fund and PSG Equity
• Participating investors include a16z, Nvidia, Salesforce Ventures, Advent, BlackRock-managed funds, and Luxembourg
• 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
• Took an $830 million loan in March to fund its own data centers
• Operates in 20 countries and serves 125+ enterprise customers including Airbus, ASML, and HSBC
• Mistral Medium 3.5 trails open-weight rivals like Qwen and Kimi and does not compete with top closed US models