Mistral AI raises 3 billion euros in investment

The leading French AI laboratory Mistral AI announced on Tuesday that it has raised 3 billion euros (approximately 3.58 billion dollars) in its Series D funding round. The company's post-money valuation has exceeded 21 billion euros (approximately 24.39 billion dollars). According to ixbt.com, this sets a record for the largest equity capital raised in the history of a European technology company. This was reported by Techcrunch.com reports.

This major funding round was led by Samsung Electronics. The Scaleup Europe Fund, managed by EQT, and existing investor PSJ Equity also co-led the round. Mistral's management stated that they will direct the funds toward expanding computing power, building infrastructure, accelerating commercial growth, and strengthening their international position.

Strategic shifts and sovereignty

The company emphasized that its main goal is not to create the next ChatGPT for Europe. Although Mistral models are not widely used in the mass market, it views itself as an independent AI laboratory. The new funding will help implement some changes in strategy, aimed at mitigating concerns about over-reliance on US technologies in Europe and other regions.

In addition to plans to build 1 gigawatt of computing power in Europe by 2030, Mistral introduced tools in August that allow customers to choose the region where their AI requests are processed. The company also began hosting third-party open-weight AI models to give customers full control over the models they use.

Global scale and political support

Mistral emphasized that its fundamental research is the foundation for infrastructure, products, and sovereignty. The laboratory currently operates in 20 countries, focusing on helping governments and large corporations utilize AI. Unlike other laboratories targeting a broader audience like OpenAI and Anthropic, this approach is meeting expectations for the French tech champion.

Samsung's addition to Mistral's shareholders was also welcomed by French officials. French President Emmanuel Macron noted in a post on the X social network that this funding round reflects the goal of France and South Korea to build a third way in the field of AI. At the same time, the Dutch chipmaker ASML also plays an important role in this process as a key partner and investor.