ASML Spearheads €1.7B Investment in European AI Startup Mistral, Boosting Valuation to €10B
Dutch semiconductor equipment giant ASML has surfaced as the principal shareholder in European AI startup Mistral AI via a colossal €1.7 billion funding round. ASML is contributing a substantial €1.3 billion of the total investment. This transaction escalates Mistral’s valuation to €10 billion, crowning it as the most valuable AI company in Europe.
Mistral AI, a brainchild of AI veterans from DeepMind and Meta, is poised as a European contender to American AI titans like OpenAI and Google. The strategic alliance is anticipated to witness ASML incorporating Mistral’s AI and analytics prowess into its lithography tools, enhancing efficiency and development procedures.
This monumental investment signifies a considerable stride towards fortifying Europe’s technological sovereignty and curtailing reliance on U.S. and Chinese AI ecosystems. ASML is projected to secure a board seat as part of the agreement, signifying a major consolidation in the global AI landscape.
The funding round underscores the escalating importance of AI infrastructure and the strategic value attributed to European AI capabilities by leading technology corporations.
Source: https://www.crescendo.ai/news/latest-ai-news-and-updates