Business and economy·November 2, 2026, 01:41

Samsung: Record memory results, a loss in its DX division and AI money for Mistral

AI-generated from the sources listed, with automated source checks.

Samsung posted record revenue in the third quarter of 2026, but its Device eXperience division ended in the red, and according to unofficial estimates its mobile business was dragged down by rising memory prices. Meanwhile, AI companies Cohere and Mistral have raised large sums, with Samsung leading Mistral's round.

Samsung Electronics announced its third-quarter 2026 results on Oct. 29. The group's revenue was 195.3 trillion won, the highest quarterly figure ever.

Samsung's memory business (chips used to store data) posted both record revenue and record operating profit. The company expects stable demand for semiconductors.

Losses on phones

Samsung's Device eXperience (DX) division, which covers mobile phones among other products, grew revenue 8 percent from the previous quarter. Even so, Samsung's own announcement shows an operating loss of 0.8 trillion won in DX.

Unofficial estimates indicate that the mobile division (MX) also lost money in the quarter. According to those unofficial assessments, the cause is rising memory prices, but Samsung has not confirmed this. The MX loss is calculated differently across the unofficial sources, and the exact figure varies.

Samsung leads round in Mistral

French AI company Mistral AI raised EUR 3 billion on Sept. 8 in a round led by Samsung Electronics. Scaleup Europe Fund, managed by EQT, and PSG Equity also took part. The post-money valuation is over EUR 21 billion, compared with EUR 11.7 billion a year earlier.

Mistral plans to spend the money on infrastructure, including its own data centers and leasing out computing power. The company expects to exceed its goal of $1 billion in annual recurring revenue in 2026. CEO Arthur Mensch says the long-term plan is to rely fully on capacity the company builds itself. According to him, the computing power it owns will grow by about 100 percent over the next five years.

Canada backs Cohere

Canadian AI company Cohere announced, on the same day as Samsung, a first close of a Series E round (a funding round) targeting up to CAD 7 billion. The valuation is $20.5 billion, roughly three times last year's level.

The Canadian government will invest up to CAD 1.6 billion alongside private investors, including Nvidia, telecom company Bell and Germany's Schwarz Group. Prime Minister Mark Carney announced the news.

Under the plan, the deal requires Cohere to create at least 1,000 tech jobs in Canada, invest at least CAD 1.7 billion in computing capacity by 2030, and keep its headquarters and incorporation in the country. Cohere merged with Germany's Aleph Alpha in April 2026.

Cohere rejects the idea that AI should be concentrated in a few American and Chinese tech giants, and aims to be a sovereign alternative for other countries. Co-founder and CEO Aidan Gomez says the investments strengthen Canada's ability to develop AI on its own terms.