Mistral in talks with Samsung on €20B valuation

Mistral is in talks with Samsung in connection with a €20 billion valuation, according to reporting cited in the Financial Times. The discussions are taking place amid industry disruption following the release of Kimi K3 by Moonshoot, described in the article as the “earthquake” driving market reactions. The report also notes that EQT’s Scaleup Europe Fund is in talks to join the round. Samsung could invest about €1 billion in the new funding round, the FT adds. Mistral’s most recent valuation was €11.7 billion. The article links the financing backdrop to what it calls an unprecedented chip crunch, with suppliers of memory and other semiconductors racing to expand capacity to support AI systems used for training and operation.