French AI company Mistral AI has raised €3 billion, about $3.58 billion, in a Series D round that values the company at more than €21 billion, or roughly $24.39 billion, after the investment. Samsung Electronics led the financing, which Mistral described as the largest equity fundraising round completed by a European technology company.
The EQT-managed Scaleup Europe Fund and existing investor PSG Equity joined as co-leads. New investors included Advent, BlackRock-managed funds and the Grand Duchy of Luxembourg, while a16z, Nvidia, Salesforce Ventures, ASML and other existing investors also participated.
Mistral plans to use the capital to increase compute capacity, expand infrastructure, support research and accelerate commercial and international growth. The company now operates across 20 countries and is positioning its models and infrastructure around customers that want greater control over where and how AI systems operate.
Mistral Expands Its Sovereign AI Infrastructure
The funding follows a series of investments aimed at reducing reliance on infrastructure controlled by U.S. technology companies. Mistral plans to build 1 gigawatt of computing capacity in Europe by 2030 and recently introduced regional inference options that let customers choose where their AI requests are processed.
The company has also started hosting third-party open-weight models, including models developed in China. Mistral says its research remains the basis for its infrastructure and products, while its platform gives organizations more choice over models, data location and deployment.
Its business is focused heavily on governments and corporations rather than only offering a consumer AI assistant. Mistral says its goal is not to create a European version of ChatGPT, while continuing to develop its own frontier models and AI infrastructure.
Samsung Joins an International Investor Base
Samsung’s investment follows ASML’s Series C backing of Mistral in 2025. The Dutch semiconductor equipment company invested €1.3 billion and established a long-term partnership covering the use of Mistral models across ASML’s products, research and operations.
French President Emmanuel Macron said Samsung’s participation reflected France and South Korea’s effort to build a “third way in AI.” Mistral has attracted interest in Europe partly from organizations seeking alternatives to relying entirely on U.S.-based AI providers.
The company continues to work closely with American technology companies. Microsoft and Mistral expanded their partnership in July through a multibillion-dollar infrastructure agreement that includes additional European computing capacity and wider availability of Mistral models across Microsoft Foundry, Copilot Studio and Azure.
Featured image credits: Deeploy
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