French AI company Mistral has completed a €3 billion Series D funding round within three years of its establishment, achieving a post-investment valuation exceeding €21 billion. This marks the largest single equity funding round in the history of European tech companies. The round was led by Samsung Electronics, with co-leadership from funds under EQT and PSG Equity, involving both new and existing investors. The funds will be used for cutting-edge model research, enhancing computational power, expanding infrastructure, and extending commercial and international operations. Currently, Mistral's business spans 20 countries, serving over 125 global enterprises. Dubbed the 'European Version of OpenAI,' Mistral's founding team boasts AI R&D backgrounds from major tech companies. The company primarily focuses on the development of generative AI models and related services, with business extending to customized AI systems across multiple fields. Since its inception, Mistral has completed five funding rounds, with its valuation reaching €11.7 billion after the Series C round in September last year, showing a significant increase within a year. In terms of models, Mistral has launched multiple general-purpose and specialized models, with Mistral Medium 3.5, released in May this year, excelling in software engineering benchmark tests. Previously, Mistral was embroiled in rumors of 'repackaging a Chinese model,' with both sides presenting differing accounts, sparking controversy. Regarding products, Mistral has upgraded its AI assistant and introduced tools like Studio and Forge, as well as AI cloud services, and launched the Agentic Search feature. Looking ahead, Mistral will focus on building an AI technology ecosystem around open-weight models. Whether it can translate its funding into practical applications for more enterprises remains a point of ongoing interest.