PSG Equity co-leads Mistral’s €3 billion Series D round at over €21 billion valuation

• Mistral raised EUR 3 billion in a Series D round at a post-money valuation above EUR 21 billion.
• Samsung Electronics led the financing; Scaleup Europe Fund managed by EQT joined as co-lead.
• PSG Equity participated as a co-lead investor, deepening a relationship that began with Mistral’s 2025 Series C.
• Mistral develops open-weight AI models with supporting infrastructure and products aimed at sovereign, controllable enterprise deployments.
• Proceeds target expanded frontier research, higher training compute capacity, broader infrastructure buildout, and faster international commercial growth.

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