Mistral bags €3B to build Europe's sovereign AI champion

Paris-based AI darling Mistral has raised €3 billion in Series D funding, giving it a post-money valuation of more than €21 billion. That makes it a minnow compared with OpenAI, but Mistral says it is the largest equity fundraising round ever completed by a European technology company. Mistral is pitching itself as a sovereign alternative to US giants such as OpenAI and Anthropic.