Mistral has raised €3 billion in a Series D funding round, giving the company a post-money valuation of more than €21 billion. The funding is the largest equity investment ever raised by a European technology company, just three years after Mistral was founded.

Samsung Electronics led the funding round. Scaleup Europe Fund, managed by EQT, and existing investor PSG Equity also joined as co-leads.

Mistral plans to use the new funding to strengthen its AI research and technology. The money will help the company increase its computing capacity, train more powerful AI models, expand its infrastructure, and grow its business internationally.

Mistral now operates in 20 countries and works with more than 125 global companies on important AI projects. Its customers include major companies such as Airbus, ASML, and HSBC.

The AI industry is now moving beyond simply building the most powerful AI models. Businesses and governments increasingly want AI that gives them better control over their data, technology, infrastructure, and deployment choices.

Mistral aims to address this demand through its full-stack AI approach. The company develops open-weight AI models, the infrastructure and computing systems needed to run them, and products that help businesses use AI in real-world applications.

This approach also helps organizations avoid being locked into a single AI provider. Companies can use Mistral’s technology while keeping greater control over their data, workflows and business knowledge.

Mistral describes this as sovereign AI, where organizations can maintain control in four key areas: their data stays within their own systems, AI models can be customized, computing resources can remain private and predictable, and AI systems can be controlled and audited after deployment.

Mistral will use the new funding to improve its AI research and computing power, build better products and infrastructure, and expand its business into more international markets.