Samsung might invest in AI start-up Mistral at $23B valuation
What's the story
Samsung is in talks to invest hundreds of millions of euros into French artificial intelligence (AI) start-up Mistral. The investment would be part of a funding round that could value the company at around €20 billion ($22.81 billion), the Financial Times has reported. The tech giant may pump in some €1 billion into this new funding round, the report added.
Investor interest
Microsoft's investment in Mistral
Along with Samsung, Swedish investor EQT's Scaleup Europe Fund is also said to be in talks to support this fundraising round for Mistral.
The development comes after Microsoft's decision to invest billions of dollars into Mistral's computing infrastructure in Europe.
The deal will also increase the distribution of the French AI start-up's technology through the US-based cloud and software giant.
Investment strategy
Samsung's investments and acquisitions
Back in April, Samsung had said it would consider investments and acquisitions as needed to speed up development and commercialization in robotics. The company also plans to partner with local firms for technology development.
Tech independence
Mistral seen as European alternative to US tech giants
Mistral, which supplies the French military, is seen as a European alternative to US tech giants.
The start-up comes at a time when governments in Europe are pushing for greater technological independence.
However, its valuation still lags behind US competitors such as Anthropic.
A recent US decision to restrict foreign access to two advanced models from San Francisco-based Anthropic has made technology independence more urgent in Europe.