Paris-based AI company Mistral has raised €3 billion in a Series D round at a post-money valuation of more than €21 billion, marking the largest equity funding round in European tech history. The round was led by Samsung Electronics, with the Scaleup Europe Fund, managed by EQT, and existing investor PSG Equity joining as co-leads.
- Founded in 2023 by Arthur Mensch, Guillaume Lample, and Timothée Lacroix, Mistral AI develops open-weight AI models and a full-stack platform covering model development, infrastructure, compute, and enterprise applications.
- Its technology enables organizations to train, customize, and deploy AI across cloud, on-premises, edge, and device environments while maintaining control over their data. Mistral operates across 20 countries and serves more than 125 enterprises, including Airbus, ASML, and HSBC.
- In March 2026, Mistral secured $830 million in debt financing to acquire NVIDIA chips for its first data center. The facility is equipped with 13,800 GB300 GPUs and has a powered capacity of 44 MW.
Details of the deal
- Existing investors participating in the round include a16z, ASML, Belfius, BNP Paribas CIB, Bpifrance, Carmignac, DST Global, Eurazeo, General Catalyst, Headline, Hillspire, Index Ventures, Korelya Capital, Lightspeed, NVIDIA, Phoenix Court’s Solar fund, and Salesforce Ventures.
- Mistral will use the funding to advance frontier AI research, expand its compute capacity, strengthen its infrastructure and products, and accelerate commercial and international expansion.
