Mistral raises 3 billion euros, valued over 21 billion

French artificial intelligence company Mistral announced Tuesday that it has raised 3 billion euros in a Series D funding round, achieving a post-money valuation of over 21 billion euros. The company described the fundraising as the largest ever completed by a European technology firm. The funding round, led by Samsung Electronics with participation from the Scaleup Europe Fund and existing investor PSG Equity, is intended to significantly expand Mistral's frontier research, scale its compute capacity for training AI models, and grow its commercial and international operations. Mistral stated the investment will accelerate its development of infrastructure and products, enabling organizations to deploy AI at scale on their own terms. Mistral, founded in 2023, positions itself as a provider of "sovereign AI" solutions. The company emphasizes offering a full stack of open-weight models, infrastructure, and compute capacity, allowing businesses and governments to harness AI power without surrendering control over their data, infrastructure, or intelligence loops.