Mistral AI (Mistral), a French artificial intelligence company, has raised € 3 billion (US$ 3.49 billion) in a Series D funding round that values the French AI company at more than € 21 billion (US$ 24.42 billion). Samsung Electronics led the investment, alongside Scaleup Europe Fund, managed by EQT, and existing investor PSG Equity.
According to a press release, the funding would support the expansion of its computing capacity, infrastructure and international operations. The company operates in 20 countries and counts more than 125 companies, including Airbus, ASML and HSBC, as customers.
The fundraising comes as companies and governments assess how to deploy AI while limiting dependence on individual technology providers. Mistral develops open-weight models, which customers can modify and run in their own environments, as well as the infrastructure and software used to deploy them.
Mistral has raised backing from investors and technology companies in Europe, Asia and North America. ASML led its previous Series C round, while Samsung led the latest financing. New investors in the Series D include Advent, funds and accounts managed by BlackRock, and the Grand Duchy of Luxembourg.
Existing investors that participated include Andreessen Horowitz, 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.