French AI startup Mistral AI has secured €3 billion, equivalent to approximately $3.49 billion, in a new funding round. The investment was led by Samsung Electronics, with participation from over two dozen backers, including Salesforce Ventures, Nvidia, and ASML. Following this transaction, the company's valuation has surpassed €20 billion.
The developer is recognized for its open-source large language models, such as Mistral Medium 3.5, and specialized guard models. Its business model focuses on managed cloud services and development tools. Offerings include Mistral Forge for synthetic dataset generation and Mistral Studio, which allows enterprises to build AI agents with version control and error mitigation capabilities.
Mistral also provides a pre-packaged agent named Vibe, capable of code generation and spreadsheet automation, which supports on-premises deployment. The company currently serves over 125 enterprise clients, including major corporations like Airbus, HSBC, and ASML. As of April, Mistral projected its monthly revenue to reach $80 million by the end of the year.
The startup intends to allocate the newly raised capital toward the acquisition of computing infrastructure required for its AI training initiatives. Additionally, the company plans to expand its international operations to strengthen its global market presence.
