The Projection — a symmetric watercolor butterfly

The Projection

The surface is never the system.

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Posture

expanding

med confidence · as of 2026-07-28 · about Mistral AI

€2B ASML-led round (Sep-2025) -> $830M for Paris/Sweden datacenters (Mar-2026) -> multibillion Microsoft partnership (Jul-21-2026) -> Samsung ~€1B stake talks + EQT-led ~€3B round in talks at €20B/$23B (Jul-16/22-2026): raising and building on every axis, accelerating week to week, just an order of magnitude smaller than the US peers.

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the working

Basis

€2B ASML-led round (Sep-2025) -> $830M for Paris/Sweden datacenters (Mar-2026) -> multibillion Microsoft partnership (Jul-21-2026) -> Samsung ~€1B stake talks + EQT-led ~€3B round in talks at €20B/$23B (Jul-16/22-2026): raising and building on every axis, accelerating week to week, just an order of magnitude smaller than the US peers.

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