French AI company Mistral hits $24 billion valuation in funding round
- On Tuesday, Mistral raised 3 billion euros in a Series D funding round led by Samsung, valuing the French startup at more than 21 billion euros. The round marks the largest equity fundraising by a European technology company.
- Positioning itself as a provider of 'sovereign AI,' Mistral offers a European alternative to U.S.-based competitors OpenAI and Anthropic. The startup achieved an 11.7 billion euros valuation a year ago in an ASML-led funding round.
- CEO Arthur Mensch plans to increase compute capacity by around 100% over five years using the capital for R&D and infrastructure. New investors include BlackRock and Luxembourg, joining existing backers Nvidia and PSG Equity.
- Expansion efforts include trebling Mistral's Singapore headcount to capture growth in South-east Asia, where the company supports more than 125 enterprises globally. The startup operates in 20 countries after opening its Singapore office in January 2025.
- CEO Mensch projects annual recurring revenue will exceed $1 billion this year and says models releasing 'very soon' will be 'very competitive.' Long-term, Mistral plans to train 'bigger and faster models' while reducing reliance on external compute.
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Samsung but also Nvidia and the European champion ASML have all given back to the pot. Mistral targets a billion annual revenues. ...
The French artificial intelligence company, now valued at €21 billion, intends to develop its infrastructure and research to maintain itself in the global race for AI.
Mistral AI has completed a new round of capture led by South Korean Samsung Electronics that has raised its market value to over $24 billion, ensuring additional firepower to invest in model development and expand its customer base. Exclusive material for subscribers. To have full access, access the material link and register.
French artificial intelligence startup Mistral has raised €3 billion in funding at a valuation of around €21 billion, the largest ever for a private European technology company. The funding round was led by PSG Equity, Samsung Electronics and the EU-backed Scaleup Europe Fund. The fresh capital will be used for model development and research as the company tries to keep up with US rivals that have valuations of up to 40 times that of Mistral. Th…
In the global race for the supremacy of artificial intelligence, Europe is losing ground – at least a little: In a new round of financing, the French AI start-up Mistral has secured three billion euros and thus faces US heavyweights such as OpenAI, Google and Anthropic even more decisively.
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