Mistral Raises €3 Billion in Europe's Largest-Ever Tech Round
Mistral closed a €3 billion Series D led by Samsung Electronics at a post-money valuation above €21 billion — the largest equity round ever by a European tech company, aimed at sovereign, open-weight AI.
What happened
Mistral raised €3 billion in a Series D round at a post-money valuation above €21 billion — the largest equity round ever completed by a European tech company, three years after launch. Samsung Electronics led it, with Scaleup Europe Fund (managed by EQT) and PSG Equity as co-leads.
Sovereign, open-weight AI
The funding will expand frontier research and compute capacity and accelerate commercial growth; Mistral now operates in 20 countries and supports more than 125 enterprises, including Airbus, ASML and HSBC.
Mistral presents its full stack — open-weight models, the infrastructure and compute they run on, and the products that bring them into production — as a "sovereign AI layer": data stays inside the organization's boundaries, models stay controllable and customizable, compute is private and predictable, and systems are fully auditable.
Investors
New backers include Advent, funds and accounts managed by BlackRock, and the Grand Duchy of Luxembourg; existing investors such as a16z, ASML, NVIDIA and Salesforce Ventures joined again. ASML led the Series C, Samsung now the Series D.