ASML Pumps €1.3B into Europe’s Top AI Contender, Mistral

Dutch semiconductor titan, ASML, has made a record-breaking €1.3 billion investment in French AI startup, Mistral AI. This move makes ASML the largest shareholder of Mistral, holding an 11% stake. The investment forms part of a €1.7 billion funding round that catapults Mistral’s valuation to €11.7 billion, crowning it as Europe’s most valuable AI company.

ASML CEO, Christophe Fouquet, characterizes the move as a “strategic partnership” with a vision to incorporate Mistral’s AI models into ASML’s lithography equipment. The goal is to boost manufacturing efficiency and productivity.

This deal marks a significant stride towards European AI sovereignty, reducing reliance on US and Chinese AI technologies.

Mistral, established in 2023 by ex-DeepMind and Meta researchers, is a direct competitor to OpenAI. It has witnessed a remarkable revenue growth, escalating from €10 million in 2023 to a whopping €60 million by 2025.

As part of this strategic alliance, ASML CFO, Roger Dassen, will join Mistral’s strategic committee.

Source: CNBC