Mistral raises €3B as sovereign AI becomes big business

Mistral AI raised 3 billion euros (about $3.58 billion) in a Series D round at a post-money valuation of more than 21 billion euros (about $24.39 billion), led by Samsung Electronics with EQT-managed Scaleup Europe Fund and PSG Equity as co-leads.

The company will use the funding to scale compute capacity, build infrastructure, accelerate commercial growth, and expand its international footprint.