Paris, Sept. 8 -- French artificial intelligence company Mistral AI has raised €3 billion (about USD 3.49 billion) in a Series D funding round at a post-money valuation of more than €21 billion (about USD 24.4 billion), making it the largest equity fundraising round ever completed by a European technology company, the company said.

The round, announced three years after Mistral's launch, was led by Samsung Electronics and co-led by EQT's Scaleup Europe Fund and existing investor PSG Equity. Existing investors including ASML, NVIDIA and BNP Paribas CIB also participated.

Mistral said the funding will support the expansion of its frontier research and model development, while increasing its computing capacity, infrastructure a...