Mistral AI Raises $3.5B At $24B Valuation In Another Record European AI Round

Paris-based generative AI company Mistral AI announced Tuesday that it has nearly doubled its valuation to over $24 billion following a $3.5 billion Series D funding round. Samsung Electronics led the round, joined by the Scaleup Europe Fund, EQT-managed co-leads, and existing investor PSG Equity. This financing comes one year after Mistral's $2 billion Series C, which valued the company at $13.7 billion, bringing the total raised to $7.5 billion since its 2023 inception.

Mistral now holds the title of the most highly valued European foundation model company, with seven other private frontier labs valued above $20 billion on The Crunchbase Unicorn board, though they are all based in the U.S. and China. The new capital will enable Mistral to significantly expand its frontier research and accelerate commercial growth and international footprint.

Mistral currently operates in 20 countries, serving more than 125 global enterprises, including Airbus, ASML, BMW, and HSBC. The startup builds AI models for tasks such as generating text, writing code, and analyzing documents, competing with U.S. companies like OpenAI, Anthropic, and Google. Unlike many U.S. rivals, Mistral offers businesses the ability to customize and run models on their own systems.

Europe's venture funding has seen a significant boost this year, with Q2 marking its strongest quarter in four years, raising $24 billion, a third more than in Q2 2025. Mistral's $2 billion Series C, which previously represented the largest European AI round, has now been eclipsed by this latest round.