Mistral raises €3B as Samsung backs European AI

Mistral AI has announced a €3B Series D round at a post-money valuation of more than €21B, calling it the largest equity fundraising round completed by a European technology company. Samsung Electronics led the round, joined by co-leads Scaleup Europe Fund, managed by EQT, and existing investor PSG Equity.

The company says the capital will expand frontier research, increase compute capacity for training larger models, and support infrastructure, commercial growth and international expansion. Mistral says it now operates across 20 countries and supports more than 125 global enterprises, including Airbus, ASML and HSBC.

The strategic angle is sovereignty. Mistral is pitching a full-stack approach built around open-weight models, infrastructure, compute capacity and production products, so companies and governments can deploy AI while keeping more control over data, models and systems.

The round also shows that Europe’s AI race is moving from model releases into capital-heavy infrastructure. With ASML leading Mistral’s previous round and Samsung leading this one, the company is attracting backers that matter for chips, manufacturing and industrial deployment, not only financial investors.