French artificial intelligence company Mistral AI has raised €3 billion in a new funding round that values the company at approximately €21 billion ($24 billion), marking one of the largest private technology funding rounds in Europe. The round was jointly led by Samsung Electronics, the Scaleup Europe Fund and PSG Equity, according to the company and reports on the transaction.
The funding represents a significant increase from Mistral AI’s previous valuation. In September 2025, the company announced a €1.7 billion Series C at a €11.7 billion post-money valuation, with ASML leading that round. The latest transaction therefore places Mistral at a substantially higher valuation less than a year after its previous major equity raise.
Mistral AI said the new capital will be used to strengthen its computing capabilities, expand research and development, and continue work on advanced AI models. The company is positioning itself as a European alternative in the increasingly competitive market for frontier artificial intelligence, where companies are investing heavily in computing infrastructure and model development.
Samsung’s participation gives the financing round an important semiconductor-industry dimension. The South Korean technology group had previously been reported to be considering an investment in Mistral as part of the company’s planned fundraising. Earlier reports in July had indicated that Samsung could invest as much as €1 billion and that the proposed round could value Mistral at around €20 billion. Those figures were based on discussions at the time; the completed transaction has now been announced at approximately €21 billion.
The other major participants include the Scaleup Europe Fund, a European investment vehicle, and PSG Equity. Their participation adds both private and European institutional backing to Mistral’s effort to expand its position in the global AI market. Reuters reported that Mistral described the transaction as the largest equity funding round by a privately owned European technology company.
Mistral was founded in 2023 by Arthur Mensch, Guillaume Lample and Timothée Lacroix. The Paris-based company has developed a portfolio of AI models and products and has sought to differentiate itself through open-weight models and an emphasis on European technological independence.
The company is also expanding its infrastructure alongside its model development activities. In March 2026, Mistral raised $830 million in debt financing to support the development of new data-centre capacity in Europe. Its growing infrastructure requirements reflect the substantial computing resources needed to train and operate increasingly capable AI models.
Mistral is now also moving deeper into what the company and investors describe as frontier AI. The latest funding is intended to provide additional resources for developing more capable models and expanding the infrastructure required to support them. Reuters reported that Mistral’s Chief Financial Officer expects the company to reach $1 billion in annual recurring revenue by the end of 2026. This is a company target rather than reported revenue already achieved and should therefore be treated as a projection.
The latest financing comes as European governments and technology companies seek to strengthen the region’s ability to develop and operate advanced AI systems without relying entirely on US-based technology providers. Mistral has increasingly positioned its technology around this idea of European technological and AI sovereignty.
With the €3 billion financing, a valuation of approximately €21 billion, and backing from Samsung, the Scaleup Europe Fund and PSG Equity, Mistral AI has secured substantially more capital to expand its AI research, computing infrastructure and commercial operations as competition among leading AI developers intensifies.
