Mistral has secured €3 billion in a Series D funding round, achieving a post-money valuation exceeding €21 billion. This milestone marks the largest equity fundraising ever completed by a European technology firm. The round was led by Samsung Electronics, with co-leads Scaleup Europe Fund (managed by EQT) and existing investor PSG Equity. Other significant participants include Advent, BlackRock, and the Grand Duchy of Luxembourg. Mistral intends to utilize the capital to scale its compute capacity for training frontier models, expand its infrastructure, and accelerate international commercial growth. The company's strategic focus is on providing a "sovereign AI layer" through a full-stack approach that integrates open-weight models with the necessary infrastructure and compute capacity to prevent vendor lock-in. By offering controllable and customizable models, Mistral aims to allow enterprises—including current clients like Airbus, ASML, and HSBC—to deploy AI while maintaining strict data governance and independence over their intelligence loops. This funding follows a Series C led by ASML and seeks to solidify Mistral's position as a provider of mission-critical AI transformation across 20 countries, ensuring that sensitive data, workflows, and institutional knowledge remain within organizational boundaries.