ASML Pumps $1.5B into European AI Powerhouse, Mistral
Dutch semiconductor equipment titan, ASML, has unveiled a strategic €1.3 billion ($1.5 billion) investment in French AI startup, Mistral AI, thereby becoming the largest shareholder with an 11% stake. This investment, which is a part of Mistral’s €1.7 billion Series C funding round, catapults the company’s valuation to €11.7 billion, thereby crowning it as Europe’s most valuable AI company.
The alliance signifies a substantial stride towards European technological sovereignty, with Mistral being positioned as the continent’s primary rival to American AI behemoths like OpenAI and Google’s DeepMind. ASML is set to secure a seat on Mistral’s strategic committee and harbors plans to assimilate the AI firm’s capabilities into its lithography systems to bolster efficiency and development.
Founded in 2023 by former DeepMind and Meta researchers, Mistral has swiftly surfaced as Europe’s best bet for AI autonomy from U.S. and Chinese ecosystems.
For more information, visit the source: ASML and Mistral AI Enter Strategic Partnership