French artificial-intelligence company Mistral has raised €3 billion at a valuation of approximately €21 billion, or $24 billion, weeks after signing an agreement to explore the use of its technology in Côte d’Ivoire.
Samsung Electronics, existing investor PSG Equity and the European Union-backed Scaleup Europe Fund jointly led the financing, Reuters reported on September 8.
Mistral described the transaction as the largest equity funding round completed by a privately owned European technology company.
Its valuation places it among Europe’s most valuable private technology businesses as governments and investors attempt to build alternatives to American companies such as OpenAI and Anthropic.
The new financing is separate from Mistral’s agreement with Côte d’Ivoire. No part of the €3 billion has been committed publicly to the West African country.
