Mistral AI's Samsung-led Series D

Mistral AI closed a €3 billion Series D round led by Samsung Electronics, with Scaleup Europe Fund and PSG Equity as co-leads, at a post-money valuation exceeding €21 billion. Mistral described it as the largest equity round ever raised by a European tech company, just three years after the company's founding. The valuation roughly doubles Mistral's €11.7 billion figure from September 2025. Samsung, which had previously backed Mistral through its venture arm, contributed approximately €1 billion, and Dutch chip-equipment maker ASML, which led the prior round, retains a position on the cap table. Funds are earmarked for frontier research, training compute, infrastructure, commercial growth, and international expansion, with Mistral's first data centre to be built in France. The company is targeting expansion across Europe, the Middle East, Asia, and North America, positioning itself as a digital sovereignty and cost-efficient option for organisations with complex compliance requirements. Mistral signed a deal in July with Microsoft to provide AI computing capacity and offer its models to Microsoft's clients. No public API prices, models, free tiers, or billing policies changed with the announcement.