Mistral AI Raises €3 Bn to Expand Its Open AI Technology

Samsung Electronics led the funding round. Scaleup Europe Fund, managed by EQT, and existing investor PSG Equity also joined as co-leads.

The round also attracted new investors, including Advent, BlackRock-managed funds and accounts, and the Grand Duchy of Luxembourg.

Who controls intelligence, and who can adapt it to their own needs, matters as much as how powerful it is. That’s why we built Mistral on open-weight models from day one, and why we’ve since expanded into infrastructure, products and deployment,” said Arthur Mensch, co-founder and CEO, Mistral.

Mistral AI was founded in 2023 by Mensch, Guillaume Lample, and Timothée Lacroix. The company develops open-weight AI models and has become a major alternative to closed AI systems.

Mistral wants to put advanced AI “in everyone’s hands.” Its goal is to make AI more open, customizable and affordable for businesses and governments.

The company serves different industries, including finance, manufacturing, defence and energy. Mistral currently operates in 20 countries and has more than 125 global enterprise customers, including Airbus, ASML and HSBC.

Mistral says the early generative AI market focused mainly on building the most powerful AI models. Today, businesses and governments are more focused on using AI for important operations while keeping control of their data, infrastructure and technology, instead of depending too heavily on outside providers.

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