French AI lab Mistral AI has closed a €3 billion Series D funding round at a post-money valuation exceeding €21 billion, marking what the company describes as “the largest equity fundraising round ever completed by a European technology company.”
The round was led by Samsung Electronics, with the EQT-managed Scaleup Europe Fund and existing investor PSG Equity joining as co-leads. The Grand Duchy of Luxembourg also joined as a new backer, alongside American investors including a16z, Nvidia, Salesforce Ventures, Advent, and BlackRock.
The funding will be used to scale compute capacity, build infrastructure, accelerate commercial growth, and expand Mistral’s international footprint. The company is targeting 1 gigawatt of compute capacity in Europe by 2030.
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