Mistral AI raises 3 billion euros at doubled valuation

French AI company Mistral is in talks to raise around 3 billion euros in new funding, according to reports from June 2026. The deal would value the company at about 20 billion euros, nearly double its valuation of 11.7 billion euros from September 2025. Mistral was founded in 2023 by researchers who previously worked at Google DeepMind and Meta. It builds large language models and runs cloud-computing centres in France and Sweden. The company has released several open-source AI tools, including Mistral Medium 3.5 in April 2026. Mistral sees itself as Europe's top AI company and competes directly with American and Chinese rivals. The discussions are still at an early stage, so the final terms may change.