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Mistral raises €3 billion at about $24 billion valuation
The Economic Times··8 Sept
French AI firm Mistral said it raised €3 billion at around €21 billion, or $24 billion, calling it Europe's largest private tech equity round. PSG Equity jointly led with newcomers Samsung Electronics and the EU-backed Scaleup Europe Fund. CFO Johan Bergqvist said funds will power models and frontier research. Microsoft did not join this round.
Prism
What It Means For You
- Mistral customers among its more than 125 clients keep access to downloadable open models.
- Bergqvist said the firm is on track for $1 billion annual recurring revenue by year end.
- An IPO remains optional with no active listing talks, he told Reuters.
What's Happening
- Mistral announced the €3 billion raise on Tuesday at about a $24 billion valuation.
- PSG Equity led with Samsung and the Scaleup Europe Fund as first-time investors.
- Bergqvist said the raise makes Mistral Europe's second-highest-valued private tech group.
Where the Money Goes
- Anthropic's valuation is listed at $965 billion and OpenAI at $852 billion in the same report.
- A June US limit on foreign access to two Anthropic models sharpened Europe's sovereignty debate.
- Microsoft's July computing deal with Mistral did not extend to participating in this equity round.
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