In France, the AI start-up Mistral is seeking to raise several billion euros at a valuation of €20bn. Samsung, a South Korean conglomerate, is in advanced discussions to invest as much as €1bn in this funding round, which would significantly increase Mistral's valuation from its previous €12bn set less than a year ago. The Financial Times reported that this investment is part of a broader fundraising effort that includes participation from other investors such as EQT’s Scaleup Europe Fund, Novo Holdings, and Santander. This interest in Mistral reflects a growing demand for European AI alternatives, especially after the Trump administration's decision to block foreign access to certain AI models, which has sparked interest in developing sovereign AI capabilities in Europe. Mistral, founded in 2023, focuses on creating open models that can be customized and deployed independently of US cloud providers, ensuring that no external entity can disable them. Recently, Mistral announced an expanded partnership with Microsoft, which has committed a multibillion-dollar investment to utilize Mistral's computing infrastructure, providing a stable revenue stream for the company. In March, Mistral raised $830m in its first debt financing to fund the construction of a data center near Paris, equipped with advanced technology to train AI models. The company has also committed over $1.4bn for digital infrastructure in Sweden, aiming for a total capacity of 200MW across Europe by 2027. Mistral's CEO, Arthur Mensch, emphasized the importance of scaling infrastructure in Europe to foster AI innovation and autonomy.