Mistral raised €3 billion, about $3.5 billion, and shifted its strategy. The French company will now also build data centres and infrastructure for businesses deploying AI. Samsung Electronics led the round, which values Mistral at about €21 billion. The Scaleup Europe Fund, backed by EU money, also invested. Mistral is building data centres in France and Sweden. Customers will be able to run Mistral models or open models from others, including China's Z.ai. Chief financial officer Johan Bergqvist said the money also funds continued frontier model work. Mistral has struggled to match the money and technical output of its US and Chinese rivals. It first outlined the shift last month.
What changed
Mistral focused on building AI models to compete directly with OpenAI and Anthropic.
What it unlocks
European organisations can buy models plus hosting and integration help from one European supplier.
- €3bn raised (about $3.5bn)
- €21bn valuation
- €6bn raised since 2023
Sources