Mistral raises €3 billion at a valuation above €21 billion
French AI company Mistral announced its Series D on September 8, co-led by Samsung Electronics, the EQT-managed Scaleup Europe Fund and PSG Equity.
The round
€3 billionMistral's Series D, about $3.58 billion
The valuation is above €21 billion. a16z, Nvidia, Salesforce Ventures, Advent, BlackRock and the Grand Duchy of Luxembourg also joined. Mistral calls it the largest equity round ever completed by a European tech company.
Where the money goes
Compute capacity, infrastructure, commercial growth and international expansion, with a target of 1 GW of compute in Europe by 2030. Mistral operates in 20 countries. Emmanuel Macron described the round as part of a French and South Korean effort to build "a third way in AI."
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