Mistral is very far in the AI race. Samsung doesn’t care about that and plans to invest a fortune in it
Mistral is in fashion. It doesn’t matter that their AI models are not among the bestbecause it is enough for the French startup to defend the discourse of European and sovereign AI that has become so relevant in recent months. That has caused its valuation to rise, but it could do so even more with the arrival of a surprising actor to its shareholding: Samsung. betting big. The South Korean giant is having conversations to invest hundreds of millions of euros in Mistral. It would do so as part of a new round of financing that would make the valuation of the French startup reach 20 billion euros. According to sources close to the operation, Samsung – which had previously invested in Mistral through its venture capital division – could contribute around 1 billion euros in this new round. Now the important thing is “to be trustworthy”. The interest in Mistral is not coincidental. These talks come after the Trump administration temporarily blocked access to the latest AI models from Anthropic and OpenAI. That has triggered a wave of interest in what It is now known as the “sovereign AI”that is, AI models that no government or foreign country can disconnect suddenly. Since its foundation, Mistral has betting precisely by open models that any customer can customize and control on their own, without political decisions in country The money doesn’t stop coming in. The current round comes less than a year after Mistral was valued at €12 billion in a deal led by ASML, the Dutch chipmaking equipment giant. In September 2025 raised 1.7 billion eurosmost of them coming from the aforementioned ASML, which uses Mistral models to develop its advanced semiconductor manufacturing machines. At the beginning of the year he managed another 830 million euros in its first debt financing, and now, in addition to Samsung, the Scaleup Europe fund, from the Swedish EQT, is also considering entering the round. Samsung and Mistral love each other more and more. Both companies have been strengthening their alliance for months. In April several media reported that both companies had been negotiating a collaboration in the field of memories for AI chips. Samsung is the largest memory manufacturer in the world, and has seen its revenue and profits skyrocket thanks to demand for AI. Investing in Mistral gives it a direct relationship with the European startup with the most projection just at a time when the entire industry is fighting for access to the supply of chips and memory. It’s a more than reasonable move. Each sheep with its partner. This alliance is reflected in other similar movements in recent weeks and months. In June, the memory maker Micron invested in Anthropic as part of a broader alliance that includes a long-term memory supply agreement. This same week, Mistral already closed an expansion of its alliance with Microsoftwhich has committed to a “multi-million dollar” investment to use the French startup’s computing infrastructure. Mistral models will also be available through Azure. Mistral Medium 3.5, the most powerful model of the French startup, is very far from open Chinese models such as GLM-5.2 or Kimi K3, and certainly from frontier models from Google, OpenAI or Anthropic. Source: Artificial Analysis. But. Despite all this interest, Mistral’s open models face a very stark reality: they are far from the capacity of the latest Chinese open models. They have recently demonstrated it both GLM-5.2 as especially Kimi K3the Moonshot AI model that already almost competes with Fable 5 and GPT-5.6. They are good, pretty and cheap, and at the moment the only advantage of Mistral is being European. We’ll see if that continues to work. Ascending trajectory. Founded just three years ago, Mistral has become the most valuable AI startup in Europe. Its CEO, Arthur Mensch, assured in the Financial Times in February that the company’s annual recurring revenue will exceed $1 billion before the end of the year. The total focus is on the drive to win business customers, and although the promise is striking, it will be necessary for Mistral to also accelerate the capacity of some models that according to benchmarks They are falling behind. Image | Babak Habibi | Mistral In Xataka | “Only two years”: Mistral CEO warns Europe that time is running out to build its own AI infrastructure