Mistral raises 3 billion euros at more than 21 billion euros post-money, led by Samsung Electronics

Sources: primary, discussion
Summary: Mistral raised 3 billion euros at a post-money valuation above 21 billion euros, in a round led by Samsung Electronics. Mistral states this is the largest equity round ever completed by a European technology company. The company frames the raise as funding compute and infrastructure for its open-weight models.
Why it matters: It funds the main open-weight alternative to the US frontier vendors for teams that need models they can host themselves.