Mistral raises €3 billion in Samsung-led funding round
The French artificial intelligence company says the funding values it at more than €21 billion and will support research, infrastructure, products and international expansion.
French artificial intelligence company Mistral has announced a €3 billion funding round led by Samsung Electronics, valuing the firm at more than €21 billion.
Mistral said the round was the largest-ever European technology fundraising. The claim has not been independently verified in the material. The company’s valuation has nearly doubled since a funding round led by ASML approximately one year ago.
The funding will be directed towards research, products, infrastructure and international expansion, according to Mistral. The company plans to build its first data centre in France as it increases spending on infrastructure.
Mistral develops AI models that organisations can run with their own data and infrastructure. It signed an agreement with Microsoft in July for AI computing capacity and distribution to Microsoft clients.
The company said it was expanding across Europe, where it is strongest, as well as the Middle East, Asia and North America. Its models are also being used in a French government tool for part of the civil service administration.
