French AI startup Mistral raises €3 billion, valued at €21B+
Business
French AI startup Mistral just raised a massive €3 billion, the largest single funding round for any European tech company so far.
This new cash brings their valuation to over €21 billion, with big investors like Samsung and BlackRock jumping in.
Mistral expects over $1B ARR
Mistral plans to use the money to double its computing power in five years and build a new data center in Sweden.
The company says they expect annual recurring revenue to exceed $1 billion this year.
The company's open-weight AI models let clients keep control of their own data, which is a big deal for Europe's push toward tech independence.
Mistral already works with over 125 global clients, including Airbus and ASML, putting them on the map as a serious challenger to US and Chinese AI giants.