Mistral raises €3B as sovereign AI becomes big business

Mistral AI secured €3 billion in a Series D round valuing the company at over €21 billion, with Samsung leading the round alongside EQT’s Scaleup Europe Fund, PSG Equity, a16z, Nvidia, Salesforce Ventures, Advent, BlackRock and Luxembourg. The funding will finance 1 GW of European compute capacity by 2030, expand infrastructure and international operations, and support its strategy of offering region-controlled AI services, including hosting open-weight models from China.