French AI startup Mistral is set to announce a €3bn Series D round led by Samsung, with participation from Nvidia, ASML and the European Union’s Scaleup Fund, according to multiple sources familiar with the deal. The funding round underscores strong investor confidence in Mistral’s position as a leading European AI innovator. Samsung’s leadership in the round highlights its strategic push into advanced AI infrastructure and foundation models.

Nvidia’s involvement signals continued backing for AI software and hardware synergy, while ASML’s participation reflects interest in AI-driven semiconductor innovation. The Scaleup Fund’s role emphasizes the EU’s commitment to scaling homegrown tech champions. Mistral, known for its open-weight large language models, has rapidly gained traction among enterprises seeking alternatives to U.S.-based AI providers.

The €3bn valuation marks one of the largest funding rounds in European AI history. The round is expected to close in the coming weeks, with funds allocated to model development, talent acquisition, and global expansion. Mistral’s CEO, Arthur Mensch, has not publicly commented on the deal.

The investment comes amid growing geopolitical focus on AI sovereignty in Europe.