Tuesday, September 8, 2026

Mistral closes 3 billion euro Samsung-led Series D

By Venture AtlasCorrections

Mistral AI

Mistral said on September 8, 2026 that it raised 3 billion euros in a Series D led by Samsung Electronics, with the EU-backed Scaleup Europe Fund managed by EQT and existing investor PSG Equity as co-leads, at a post-money valuation of more than 21 billion euros (about $24 billion). The company called it the largest equity fundraising by a privately owned European technology firm, nearly doubling the 11.7 billion euro valuation from its ASML-led Series C a year earlier. CEO Arthur Mensch told CNBC the capital will go toward owned data centers and larger models; CFO Johan Bergqvist said Mistral is on track for $1 billion of annual recurring revenue by year-end and that Microsoft did not join this round.