Mistral closed a 3 billion euro Series D on September 8, TechCrunch reported, at a post-money valuation above 21 billion euros (CNBC converted it to about $24 billion). Samsung Electronics led, with the Scaleup Europe Fund managed by EQT and existing investor PSG Equity as co-leads. A year earlier the valuation was 11.7 billion euros after a round led by ASML.
CEO Arthur Mensch said the funding will go to building more infrastructure, including data centers, and renting out compute. French President Macron said the round reflected France and South Korea's goal of "building a third way in AI." The cap table remains international, with a16z, Nvidia, Salesforce Ventures, Advent and BlackRock among investors.
Source: TechCrunch