French startup Mistral AI is in talks to raise ~€3B at a ~€20B valuation; it was last valued at €11.7B during a funding round in September 2025
French startup Mistral AI is in talks to raise around €3 billion ($3.5 billion) at a valuation of roughly €20 billion …
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Mistral AI Eyes €3B Raise at Nearly Double Its Last Valuation
French AI startup Mistral AI is negotiating a massive funding round that would value it at roughly €20 billion.
Mistral AI is back at the fundraising table — and the price tag has ballooned. The French AI startup is in talks to raise approximately €3 billion (about $3.5 billion) at a valuation of roughly €20 billion, according to Bloomberg sources.
That's a serious jump. Mistral was last valued at €11.7 billion during a funding round in September 2025. If the new deal closes, the company will have nearly doubled its valuation in under a year.
The raise underscores the relentless appetite for AI infrastructure bets in Europe, where Mistral has positioned itself as the continent's leading challenger to American AI giants. The sheer size of the round — €3 billion — puts it in rare company among European startups at any stage.
No word yet on which investors are at the table or when a deal might close.