Samsung, the South Korean technology giant, is discussing an investment in French artificial intelligence startup Mistral as part of a larger fundraising round. This potential investment could value Mistral at roughly €20 billion ($22 billion), with Samsung possibly contributing up to €1 billion. This move highlights a growing trend among AI developers to secure partnerships with semiconductor suppliers, driven by a surge in demand for computing power.
Mistral is actively seeking to capitalize on increasing interest from European and Asian companies and governments for alternatives to leading US AI models. This interest has been amplified by recent US export controls against Anthropic's latest models, sparking a demand for "sovereign AI" capabilities. Mistral has consistently focused on developing "open" AI models that offer customers greater customization and control, preventing external shutdown. Samsung had previously invested in Mistral through its venture capital arm.
The current fundraising round aims to raise several billion euros, less than a year after Mistral was valued at €12 billion in a deal led by Dutch chip equipment giant ASML. EQT's Scaleup Europe Fund, a vehicle primarily backed by Brussels and managed by EQT, is also reportedly in discussions to support this funding round. While talks are ongoing and terms could change, the potential investment underscores Mistral's ambition to become a leading alternative to US technology groups in the AI sector.
