Mistral AI Raises €3 Billion and Surpasses €21 Billion Valuation

Mistral AI announces a Series D funding of €3 billion, valuing the company at over €21 billion. The company claims a European record, with Samsung Electronics leading the round. Despite its models lagging behind, it targets enterprise use cases and relies on a broad customer base.

Lagging Models and Enterprise Focus, 20 Countries and 125 Clients

The models developed by Mistral AI are not among the top performers in the market. Mistral Medium 3.5 is outpaced by Qwen and Kimi in the open models category and does not compete with American closed models. The company is focusing its efforts on the enterprise market. It operates in 20 countries and has over 125 corporate clients, including Airbus, ASML, and HSBC. Since early 2026, Mistral AI has benefited from the demand of European clients looking to reduce their dependence on American suppliers.

€3 Billion Round Led by Samsung, Co-Leaders EQT and PSG

Mistral AI has just completed a Series D funding round amounting to €3 billion, bringing its valuation to over €21 billion. According to the company, this is the highest equity funding round ever recorded for a European tech company. This financing was led by Samsung Electronics, with the Scaleup Europe Fund from EQT and PSG Equity as co-leaders. New entrants include Advent, certain funds managed by BlackRock, and the Grand Duchy of Luxembourg. Existing investors, including a16z, Nvidia, ASML, and General Catalyst, also participated in the round. This funding comes three years after the founding of Mistral AI.

Recent Capital: ASML in 2025 and $830 Million Loan in March

Mistral AI's valuation has nearly doubled in a short time. In September 2025, ASML contributed €1.3 billion while the company's valuation was around €12 billion. In March, Mistral AI secured financing in the form of an $830 million loan to support the establishment of its own data centers.