Mistral · France · Samsung · U.S. · TechCrunch AI
Mistral raises €3 billion as sovereign AI becomes big business
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French AI lab Mistral AI on Tuesday said it has raised €3 billion (about $3.58 billion) at a post-money valuation of more than €21 billion (about $24.39 billion), confirming earlier rumors.
Key facts
- French AI lab Mistral AI on Tuesday said it has raised €3 billion (about $3.58 billion) at a post-money valuation of more than €21 billion (about $24.39 billion), confirming earlier rumors
- In addition to a push to build 1 GW of compute capacity in Europe by 2030, Mistral in August unveiled tools that let its customers choose which regions their AI queries are processed
- This Series D round, which Mistral said is “the largest equity fundraising round ever completed by a European technology company,” was led by Samsung Electronics, with EQT-managed Scaleup Europe Fund
- The funding will help Mistral pursue a subtle shift in strategy that aims to further address concerns in Europe and elsewhere about being too dependent on the United States for tech, especially
Summary
This Series D round, which Mistral said is “the largest equity fundraising round ever completed by a European technology company,” was led by Samsung Electronics, with EQT-managed Scaleup Europe Fund and existing investor PSG Equity joining as co-leads. Mistral said it will use the funding to scale its compute capacity, build infrastructure, accelerate commercial growth, and expand its international footprint. The funding will help Mistral pursue a subtle shift in strategy that aims to further address concerns in Europe and elsewhere about being too dependent on the United States for tech, especially with the intensifying politics around AI regulation and products Stateside.