Mistral AI raises €3B Series D led by Samsung at €21B+ valuation — Europe's largest-ever tech equity round

French AI lab Mistral AI raised a €3 billion (~$3.58B) Series D led by Samsung Electronics at a post-money valuation above €21 billion, which the company calls the largest equity round ever completed by a European technology company.

Mistral AI announced a €3 billion Series D at a post-money valuation above €21 billion (~$3.58B per TechCrunch). Samsung Electronics led the round, with EQT's Scaleup Europe Fund and PSG Equity as co-leads; new investors include Advent, BlackRock, and the Grand Duchy of Luxembourg, and TechCrunch adds a16z, Nvidia, and Salesforce Ventures as participants. The Decoder reports the valuation roughly doubled from about €12 billion following ASML's September 2025 investment, and Hacker News notes the prior Series C was ASML-led with NVIDIA and a16z participating. The company operates across 20 countries and serves 125+ enterprise customers including Airbus, ASML, and HSBC. Funds are earmarked for frontier research, compute capacity, and international growth; TechCrunch reports plans for 1 GW of European compute capacity by 2030, region-selectable query processing, and hosting third-party open-weight models as part of a sovereign AI strategy targeting governments and enterprises. Separately, The Decoder reports Mistral took an $830 million loan in March to fund its own data centers, and that Mistral Medium 3.5 trails open rivals such as Qwen and Kimi, with the strategy leaning on enterprise sales.

• Round: €3 billion Series D (~$3.58B per TechCrunch), reported 2026-09-08
• Valuation: above €21 billion post-money; The Decoder reports this is roughly double the ~€12 billion valuation tied to ASML's September 2025 investment
• Leadership of round: Samsung Electronics led; EQT's Scaleup Europe Fund and PSG Equity co-led (all three sources)
• Other participants: Advent, BlackRock, and Luxembourg listed as new investors (Hacker News, The Decoder); TechCrunch also lists a16z, Nvidia, and Salesforce Ventures
• Company claim: largest equity round ever completed by a European technology company
• Prior round: Series C was led by ASML, with NVIDIA and a16z participating (Hacker News)
• Customers/footprint: 125+ enterprise customers including Airbus, ASML, and HSBC; operations across 20 countries
• Stated plans: expand frontier research, compute capacity, and international growth; TechCrunch reports 1 GW of European compute capacity by 2030, region-selectable query processing, and hosting third-party open-weight models (sovereign AI…