Samsung Electronics is in discussions to invest in the Paris-based artificial intelligence company Mistral as part of a new funding round, according to a Financial Times report published Wednesday. The fundraising effort could place Mistral’s valuation at approximately €20 billion ($22.81 billion), the report stated, citing sources with knowledge of the matter.
The potential investment from the South Korean technology company would reportedly amount to several hundred million euros. According to the sources cited, the discussions are part of a larger capital-raising initiative by Mistral to fund its expansion and development in the competitive AI sector.
Mistral AI was established in 2023 by former researchers from Google’s DeepMind and Meta Platforms. The company develops foundational large language models, which are the underlying technology for generative AI applications.
The reported €20 billion valuation marks a significant increase from the company’s previous funding round. In December 2023, Mistral raised €385 million ($415 million) at a valuation of €2 billion. That round was led by investors including Andreessen Horowitz, Lightspeed Venture Partners, and Salesforce.
Earlier this year, Microsoft announced a multi-year partnership with Mistral that included a €15 million investment. The collaboration made Mistral’s AI models available through Microsoft’s Azure cloud computing platform.
For Samsung, an investment would align with its increasing focus on integrating artificial intelligence into its consumer electronics, from smartphones to home appliances.
The talks are ongoing, and final details of the funding round have not been confirmed, according to the Financial Times. Both Samsung and Mistral declined to comment on the matter when contacted by news agencies.
