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Exclusive: EQT’s €5bn Scaleup Fund in talks to lead Mistral round

Sifted 16 July 2026, 16:00

Swedish investment firm EQT is in talks to lead or co-lead a Series D funding round for French AI company Mistral through its €5 billion Scaleup Europe Fund. The round values Mistral between €8 billion and €16 billion according to sources familiar with the deal. EQT's involvement as a lead investor would provide significant capital to support Mistral's continued development and expansion of its AI models and services.

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TLDRocket 22 October 2026

The most important AI story today wasn’t a new model spec sheet—it was the reminder that “normal operation” can still be a security failure. EchoLeak showed how a carefully crafted, Microsoft 365 Copilot input could steer how the system processes enterprise content, changing downstream actions and creating a pathway to exposure. It’s the kind of threat shift security teams have been warning about: once AI can do more than answer—once it can act inside workflows—the risk isn’t just credential theft or malware, it’s mapping inputs to permissions and outcomes, including that fuzzy zone called “excessive agency.”

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Exclusive: EQT’s €5bn Scaleup Fund in talks to lead Mistral round

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Every AI story that matters, in your inbox by 8am.

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