SITUATION EXPLAINED: Mistral raised €3 billion at a €21 billion valuation. • The largest equity round ever completed by a European tech company, and nearly double its €11.7 billion valuation a year ago • Samsung led with roughly €1 billion, co-led by the EU's Scaleup Europe Fund making its first investment, the same vehicle that backed Lovable last month • Mensch says Mistral is on track to pass $1 billion ARR before the end of the year, and that the compute it owns will grow around 100% over…