ASML Pumps €1.3B into Mistral AI, Boosting Europe’s AI Prowess
ASML, the Dutch semiconductor behemoth, has made a landmark investment of €1.3 billion in the French AI startup Mistral AI. This investment spearheads a €1.7 billion funding round, catapulting the company’s valuation to an impressive €11.7 billion. This unique strategic alliance between a semiconductor equipment manufacturer and a top-tier AI company positions ASML as Mistral’s largest shareholder, holding an 11% stake.
This deal significantly bolsters European technological sovereignty, with Mistral AI emerging as Europe’s counter to US titans such as OpenAI and Google’s Gemini. Roger Dassen, ASML’s Chief Financial Officer, will join Mistral’s Strategic Committee, providing the Dutch firm with an advisory role in shaping the AI company’s future strategy.
The partnership is set to fuse Mistral’s AI capabilities with ASML’s lithography systems, potentially enhancing time to market and system performance for chip manufacturers like Samsung, Intel, and Apple.
This investment has more than doubled Mistral’s previous valuation of €5.8 billion achieved last year, making it one of Europe’s most valuable private companies. The funding round also saw participation from existing investors such as Nvidia, Andreessen Horowitz, and General Catalyst.
Source: ASML