Mistral AI raises EUR3B Series D at over EUR21B post-money, led by Samsung
- Raised
- $3.6B
- Valuation · +77% vs Series C
- $24B
- Lead investors
- PSG
- Place in VP50
- #22
What happened
Mistral AI announced on 8 September 2026 that it had raised 3 billion euros in a Series D at a post-money valuation of more than 21 billion euros. TechCrunch gave the amounts as about $3.58 billion and about $24.39 billion. Samsung Electronics led the round. The EQT-managed Scaleup Europe Fund and existing investor PSG Equity joined as co-leads. Mistral called it the largest equity fundraising round ever completed by a European technology company. Bloomberg also reported the raise, with a headline putting the valuation at 21 billion euros.
TechCrunch listed Advent, BlackRock and the Grand Duchy of Luxembourg as new backers, and a16z, Nvidia and Salesforce Ventures as existing investors that invested again. Mistral said the money would go toward scaling compute capacity, building infrastructure, accelerating commercial growth and expanding internationally. TechCrunch said Mistral operated in 20 countries and was pushing to build 1 GW of compute capacity in Europe by 2030. It did not state the previous valuation and gave no revenue figures. The sources read did not state a price per share.
Key points
- Mistral AI raised EUR3B in a Series D at more than EUR21B post-money, announced 8 September 2026.12
- Samsung Electronics led; the Scaleup Europe Fund and PSG Equity joined as co-leads.1
- Advent, BlackRock and the Grand Duchy of Luxembourg joined as new backers.1
- Mistral said the funds would go to compute, infrastructure, commercial growth and international expansion.1
- TechCrunch cited a push to build 1 GW of compute capacity in Europe by 2030.1
Why it matters
A EUR3B primary round at more than EUR21B post-money gives holders a current priced mark. The sources read did not state the previous valuation, so no comparison is made here.
The lead came from Samsung Electronics, an operating company, alongside funds such as EQT's Scaleup Europe Fund and PSG Equity, with BlackRock, Advent and the Grand Duchy of Luxembourg as new backers. Existing holders a16z, Nvidia and Salesforce Ventures also invested again.
TechCrunch tied the raise to demand for sovereign AI and noted tools Mistral unveiled in August that let customers choose which regions their queries are processed in. The sources gave no revenue figure behind that positioning.
In context
| Round | Date | Post-money valuation | Raised | Led by |
|---|---|---|---|---|
| Seed | Jun 13, 2023 | $260M | $113M | Lightspeed Venture Partners |
| Series A | Dec 11, 2023 | $2.0B | $415M | Andreessen Horowitz |
| Series B | Jun 11, 2024 | $6.2B | $640M | General Catalyst |
| Series C | Sep 9, 2025 | $14B | $2.0B | ASML |
| Series D | Sep 8, 2026 | $24B | $3.6B | PSG Equity, Samsung Electronics, and Scaleup Europe Fund |
Updated
Fact-check
- Mistral AI raised 3 billion euros in a Series D at a post-money valuation of more than 21 billion euros.Stated by [1] TechCrunch; [2] Bloomberg's page was blocked for the checker, but its headline in the event record gives the 21 billion euro valuation.Verified
- The dollar equivalents were about $3.58 billion and about $24.39 billion.Stated by [1] TechCrunch.Verified
- Samsung Electronics led the round, with the Scaleup Europe Fund and PSG Equity as co-leads.Stated by [1] TechCrunch; [2] Bloomberg's headline describes the round as Samsung-led.Verified
- The round was announced on 8 September 2026.[1] TechCrunch is dated September 8, 2026 and places the announcement on Tuesday, the same day.Verified
- Mistral called it the largest equity fundraising round ever completed by a European technology company.[1] TechCrunch quotes Mistral's statement.Verified
- Advent, BlackRock and Luxembourg are new investors; a16z, Nvidia and Salesforce Ventures invested again.Stated by [1] TechCrunch.Verified
- Mistral operates in 20 countries and is pushing to build 1 GW of compute capacity in Europe by 2030.Stated by [1] TechCrunch.Verified
Sources
- [1]TechCrunch (opens in a new tab)Mistral raises EUR3B as sovereign AI becomes big businessthe largest equity fundraising round ever completed by a European technology company
- [2]Bloomberg (opens in a new tab)Mistral AI Boosts Valuation to EUR21 Billion in Samsung-Led Round
