Artificial intelligence company Mistral AI has raised €3 billion in a Series D funding round led by Samsung Electronics, with participation from the Scaleup Europe Fund and PSG Equity.

 

The round, which comes exactly a year after Mistral AI raised €1.7 billion, brings the company’s valuation to €21 billion. The round is also historic, as it is the largest fundraising ever completed by a European technology company, just three years after its launch.

 

 

With the funds raised, Mistral plans to significantly expand its frontier research while scaling its computing capacity to train powerful AI models. Mistral also said the funds will be used to expand its infrastructure, accelerate commercial growth, and strengthen its international presence.

 

About Mistral AI

 

Founded in 2023 by three DeepMind and Meta alumni, Arthur Mensch, Guillaume Lample, and Timothée Lacroix, Mistral AI is a French artificial intelligence company that aims to democratize frontier AI by developing open weight models that provide users and organizations with greater control, accessibility, and customizability.

 

Since its launch, Mistral AI has lived up to its goal of developing competing AI models that are largely accessible and remain under users’ control. The company has also raised approximately €6 billion across several funding rounds, supporting more than 125 enterprises and users in over 20 countries.

 

Still in the AI sector, Anthropic has abandoned its $6 billion acquisition of Israeli AI startup Decart AI after being in talks with the Decart team for roughly one month. 

 

Although the reason for Anthropic’s decision to walk away from the deal remains undisclosed, speculation has centered on the startup’s lack of scalability and the founder’s refusal to relocate its talent and operations from Tel Aviv to San Francisco.