Mistral has raised €3 billion in a Series D round, giving the French AI company a post-money valuation of more than €21 billion. Samsung Electronics led the financing, with the Scaleup Europe Fund and existing investor PSG Equity serving as co-leads.
The company says it will use the money to increase computing capacity for model training, strengthen its research and infrastructure, and accelerate commercial expansion. Mistral currently operates in 20 countries and says more than 125 global enterprises use its technology for critical AI projects.
Mistral is positioning itself around “sovereign AI”: systems that organizations can control across data, models, computing infrastructure and production deployment. Its stack includes open-weight models, infrastructure and commercial products, allowing customers to customize deployments and keep sensitive data inside their own boundaries.
The investor list spans Europe, Asia and North America, including new participation from Advent, BlackRock-managed funds and Luxembourg. The round gives Mistral substantially more capital to compete in an expensive market while retaining its emphasis on open weights and customer-controlled deployment.