Mistral raises €3B as sovereign AI becomes big business

French AI lab Mistral AI has raised €3 billion in a Series D round, valuing the company at over €21 billion. This funding, led by Samsung Electronics, is the largest equity fundraising ever by a European tech company. Mistral plans to use the capital to scale compute capacity, build infrastructure, accelerate commercial growth, and expand internationally. The company aims to address concerns about European dependence on U.S. tech, particularly regarding AI regulation, and is focused on helping governments and corporations leverage AI while maintaining control.

This funding round marks the largest equity fundraising ever completed by a European technology company, unlike earlier rounds that were smaller in scale.