French AI startup Mistral secured a €3 billion Series D funding round. BlackRock joined new investors in the round. The financing marks the largest-ever equity round for a private European tech company. It valued Mistral at approximately €21 billion ($24 billion).
Samsung Electronics led the financing. New investors Advent and the Grand Duchy of Luxembourg also participated. Existing backers, including Nvidia and Salesforce Ventures, also joined. Mistral will use the capital to expand its computing infrastructure and accelerate international commercial growth to compete with larger U.S. rivals.