Mistral raises €3B Series D at >€21B valuation (Samsung-led)

On 8 Sep 2026 Mistral announced a €3 billion Series D at a post-money valuation of more than €21 billion, three years after launch, calling it the largest equity fundraising round ever completed by a European technology company. Samsung Electronics led; co-leads were Scaleup Europe Fund (managed by EQT) and existing investor PSG Equity. New money includes Advent, BlackRock-managed funds/accounts, and the Grand Duchy of Luxembourg; existing backers such as a16z, ASML, Bpifrance, DST, General Catalyst, Index, Lightspeed, NVIDIA, and Salesforce Ventures also participated. Proceeds expand frontier research, training compute, infrastructure, and international commercial growth. Mistral says it operates in 20 countries and supports 125+ enterprises (Airbus, ASML, HSBC among them), positioning a full-stack open-weight + infra + products pitch as ‘sovereign AI’ — data, models, compute, and production systems under customer control. TechCrunch (8 Sep) covered the closed Series D as sovereign AI becoming big business in Europe.