Mistral raises €3 billion Series D led by Samsung

Mistral raised €3 billion in a Series D that values the French AI lab at more than €21 billion after the money lands. Samsung Electronics led the round. Scaleup Europe Fund, managed by EQT, and existing investor PSG Equity co-led, according to an 8 September 2026 company newsroom post.

Mistral calls it the largest equity fundraising round ever completed by a European technology company, three years after launch. That ranking is the company's language. Bloomberg converted the €3 billion raise to about $3.5 billion. The euro figures are the ones Mistral put on the record.

The operational footprint is easy to miss under the valuation. The post says Mistral now operates across 20 countries and supports 125+ global enterprises, naming Airbus, ASML, and HSBC. Proceeds go to frontier research, training compute, infrastructure, commercial growth, and international expansion.

The company pitches a full-stack open-weight offering (models, the infrastructure and compute they run on, and products) as a sovereign AI layer across data, models, compute, and production systems. Series C was led by ASML. Series D is led by Samsung.

New money came from Advent, funds and accounts managed by BlackRock, and the Grand Duchy of Luxembourg. Existing participants include a16z, ASML, Belfius, BNP Paribas CIB, Bpifrance, Carmignac, DST Global, Eurazeo, General Catalyst, Headline, Hillspire, Index Ventures, Korelya Capital, Lightspeed, NVIDIA, Phoenix Court's Solar fund, and Salesforce Ventures.

The check sits in the same neighborhood as other giant AI checks this season, including Nvidia's agreed $12.9 billion Hugging Face purchase.

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