French artificial intelligence company Mistral has raised €3 billion ($3.48bn) in a Series D funding round, giving it a post-money valuation of €21bn ($24.4bn).
Samsung Electronics led the round, which was the largest equity fundraising round ever completed by a European technology company. The investment also included co-leads Scaleup Europe Fund, managed by EQT, and existing investor PSG Equity.
– Mistral AI SAS
Mistral said that the funds will be used to help expand its compute training footprint, as well as international inference footprint.
The company in July signed a multi-billion dollar deal with Microsoft for compute across Europe, featuring Nvidia Vera Rubin GPUs.
