Mistral AI announced on Tuesday it has raised €3 billion in a Series D funding round, valuing the company at more than €21 billion. The round, described as the largest equity fundraising ever by a European tech company, was led by Samsung Electronics, with EQT and PSG Equity as co-leads.
The funding will be used to scale compute capacity, build infrastructure, accelerate commercial growth, and expand Mistral's international footprint. The company emphasized its goal is not to create a European ChatGPT, but to serve as an AI lab focused on sovereign AI infrastructure.
"This funding will help us pursue a subtle shift in strategy that aims to further address concerns about being too dependent on the United States for tech," said Mistral. The company aims to reduce reliance on U.S. tech by building 1 GW of compute capacity in Europe by 2030.
The funding round also includes participation from American investors like a16z, Nvidia, and Salesforce Ventures, alongside new backers such as Advent and BlackRock. Mistral’s international cap table includes Luxembourg and other European investors, reflecting its global ambitions.
Mistral still collaborates with U.S. players like Microsoft through a strategic partnership, but its focus remains on helping governments and corporations leverage AI while preserving control. The company’s sovereign AI strategy has boosted its revenue amid growing demand for local tech solutions.
Source: techcrunch
