ASML Invests €1.3B in Europe’s Leading AI Company, Mistral
Dutch semiconductor equipment giant ASML is poised to become the largest shareholder in European AI startup, Mistral AI. This comes as a result of a massive €1.7 billion funding round, with ASML contributing a substantial €1.3 billion of the total investment.
This landmark deal catapults Mistral AI’s valuation to €10 billion, earning it the title of the most valuable artificial intelligence company in Europe. The investment signifies a strategic move to bolster Europe’s technological sovereignty, aiming to reduce reliance on U.S. and Chinese AI ecosystems.
ASML is expected to secure a board seat and has plans to incorporate Mistral’s AI and analytics capabilities into its advanced lithography tools. This integration is anticipated to enhance efficiency and streamline development processes.
Mistral AI, co-founded by AI veterans from DeepMind and Meta, has established itself as a formidable European contender to companies like OpenAI and Google. This partnership underscores Europe’s escalating ambition to vie in the global AI race with its indigenous technology champions.
Source: Reuters via Crescendo AI