Mistral announces 3B-euro Series D led by Samsung at valuation above $24B
Mistral announced on September 24 a 3B-euro Series D led by Samsung, with EQT Scaleup Europe Fund and PSG Equity co-leading, and ASML and NVIDIA participating.
On September 24, Mistral AI announced closing a 3 billion-euro Series D at a valuation above 21 billion euros (around $24 billion), the largest single equity round ever raised by a European tech company. The round was led by Samsung Electronics, co-led by EQT's Scaleup Europe Fund and PSG Equity, with continued participation from ASML, NVIDIA, and BNP Paribas CIB.
Mistral CEO Arthur Mensch said the capital goes toward scaling training and inference compute and building out proprietary data centers. The company framed the round around its 'open-weight plus sovereign-deployment' strategic pitch, positioning the stack as 'frontier performance without lock-in' for organizations that need to keep agent memory, tool calls, and proprietary context inside their own network perimeter.
The round doubles Mistral's valuation in a single year and cements the company as the flagship of the European AI sovereignty narrative. Samsung's leading role signals the geographic expansion of European AI sovereignty into the memory supply chain.