Mistral AI Raises €3 Billion in Samsung-Led Series D

Mistral AI has raised €3 billion in a Series D at a post-money valuation of more than €21 billion. Samsung Electronics led the round, with the Scaleup Europe Fund, managed by EQT, and existing investor PSG Equity as co-leads.

Mistral said the new capital will go toward frontier research, more computing capacity for model training, infrastructure and faster commercial and international growth.

The three-year-old company called the deal the largest equity fundraising round completed by a European technology company. That record characterization was not independently established against a comprehensive transaction dataset.

The funding advances Mistral’s sovereign-AI strategy, which brings together open-weight models, infrastructure, compute and production software. The company says customers can decide where to store data, customize models, use private computing infrastructure and audit production systems. Mistral has also pursued that strategy through a sovereign-AI collaboration with HUMAIN.

New investors named by Mistral include Advent, funds and accounts managed by BlackRock, and the Grand Duchy of Luxembourg. Existing backers that participated included a16z, ASML, Bpifrance, NVIDIA and Salesforce Ventures, as well as PSG Equity.

Mistral said it operates in 20 countries and supports more than 125 global enterprises, citing Airbus, ASML and HSBC as customers. Those operating figures were not independently verified in the available evidence.

EQT said in May 2026 that the European Commission and other founding investors selected it as preferred investment adviser and fund manager for the Scaleup Europe Fund. The vehicle was targeting €5 billion, subject to fundraising, according to EQT.