Mistral AI, the French artificial intelligence startup founded in 2023, has closed a €3 billion Series D round, valuing the company at over €21 billion, making it the largest equity fundraise ever by a European tech company. Samsung Electronics led the round, joined by EQT, PSG Equity, Advent, and BlackRock-managed funds, along with reinvestors Andreessen Horowitz, ASML, and NVIDIA. The startup, which currently serves over 125 enterprise clients across 20 countries including Airbus and HSBC, plans to build 200 megawatts of computing capacity across Europe by the end of 2027. Its annualized recurring revenue is projected to surpass $400 million in early 2026, with a target of $1 billion by year-end.
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