French AI startup Mistral AI has raised €3 billion in a Series D funding round at a post-money valuation of more than €21 billion, nearly doubling its €11.7 billion valuation from a year ago. Samsung Electronics led the financing, with Scaleup Europe Fund and existing investor PSG Equity joining as co-leads.
Mistral plans to use the capital to expand frontier AI research, increase computing capacity, build infrastructure and accelerate its international growth. The company currently operates across 20 countries and serves more than 125 major enterprises, including Airbus, ASML and HSBC.
The company expects to surpass $1 billion in annual recurring revenue by the end of 2026. The new funding strengthens Mistral’s position as Europe’s leading independent AI developer as it invests heavily in models and computing infrastructure to compete with significantly larger U.S. rivals.
