57 mins ago - Business

Mistral in talks with Samsung on €20B valuation

Lucinda Shen

Illustration of a laptop with safety deposit boxes on the screen, one box is open with light pouring from the laptop. — Illustration: Aïda Amer/Axios

Samsung is in talks to invest in French foundational model company Mistral at a potential €20 billion valuation, the FT reports.

Why it matters: Talks are happening in the midst of the earthquake caused by Moonshoot's release of Kimi K3.

Between the lines: EQT's Scaleup Europe Fund is also in talks to join the round. Samsung could invest about €1 billion in the new round, per the FT.

Mistral was last valued at €11.7 billion.

Zoom in: "Mistral's talks with Samsung come as the AI industry faces an unprecedented chip crunch, as suppliers of memory and other semiconductors needed to run and train AI systems rush to expand capacity." — Ivan Levingston and Tim Bradshaw, Financial Times

Add Axios on Google

Mistral in talks with Samsung on €20B valuation

What to read next