ASML Pumps $1.5B into Mistral AI: Europe’s Largest AI Investment
Dutch semiconductor titan ASML has poured €1.3 billion ($1.5 billion) into French AI startup Mistral AI, marking a landmark technology partnership in Europe. This investment catapults ASML to the position of the largest shareholder in Mistral AI.
The investment spearheads Mistral’s €1.7 billion Series C funding round, skyrocketing the company’s valuation to €11.7 billion. This makes it the most valuable AI company in Europe. ASML now commands an 11% stake in the Paris-based startup and is set to secure a seat on Mistral’s Strategic Committee via CFO Roger Dassen.
This extraordinary partnership between a semiconductor equipment manufacturer and an AI company is poised to bolster European technological sovereignty. It also aims to diminish reliance on U.S. and Chinese AI ecosystems.
Mistral, established in 2023 by ex-DeepMind and Meta researchers, is widely acclaimed as Europe’s counter to OpenAI. It symbolizes the continent’s best shot at competing in the global AI race.
The collaboration is expected to spur innovation for both companies, with ASML potentially incorporating Mistral’s AI prowess into its advanced lithography equipment. This equipment is utilized by major chipmakers worldwide.