Mistral AI raises at $31 billion valuation in Samsung-led round

Mistral AI has secured €3 billion in funding, bringing its valuation to over €21 billion, in a round led by Samsung Electronics. The EU's Scaleup Europe Fund and PSG Equity also participated. This investment aims to bolster Mistral's development of artificial intelligence models and infrastructure. The company's CEO, Arthur Mensch, highlighted the potential of industrial AI, a key differentiator for Mistral, which includes applications in manufacturing processes.

European companies like Airbus SE, BMW AG, and ASML Holding NV have already signed deals with Mistral. The funding will also enable Mistral to expand its presence in the US and Asia, while continuing to focus on European growth. The company raised US$830 million in debt earlier this year for a data center project in France and another €1.2 billion for a data center in Sweden.

Mistral, founded in 2023, differentiates itself by developing open-source large language models, contrasting with the closed models of larger American AI companies. The recent funding round comes amid growing concerns about AI security, particularly from US President Donald Trump's administration, which ordered Anthropic to restrict access to its advanced AI models for foreign nationals.