Home / Technology / ASML Invests $1.5B in French AI Startup Mistral, Boosting European Tech Dominance
ASML Invests $1.5B in French AI Startup Mistral, Boosting European Tech Dominance
7 Sep
Summary
- ASML, a Dutch chip equipment maker, to become top shareholder of French AI startup Mistral
- Mistral to raise €1.7B ($2B) in funding, valuing it at €10B ($11.7B)
- ASML's investment aims to strengthen European tech sovereignty and reduce reliance on US, Chinese AI
In a move to bolster European tech sovereignty, ASML, a Dutch supplier of advanced chipmaking equipment, is poised to become the top shareholder of the French artificial intelligence startup Mistral. According to sources familiar with the matter, ASML is committing €1.3 billion ($1.5 billion) to Mistral's €1.7 billion ($2 billion) fundraising round, which will make the AI company the most valuable in Europe with a €10 billion ($11.7 billion) pre-money valuation.
The investment is expected to give ASML a board seat at Mistral, further tying together two European technology leaders. The cash infusion from ASML could help Mistral reduce Europe's reliance on US and Chinese AI models, the sources said. ASML, which makes crucial lithography equipment for cutting-edge chip production, could also benefit from implementing Mistral's data analytics and AI capabilities to improve the performance of its own tools and develop additional products.
Mistral, backed by Nvidia, was previously valued at over €6 billion ($6.6 billion) after its Series B funding round last year. The company, founded in 2023 by former researchers from DeepMind and Meta, is seen as France's and Europe's AI champion, competing with US giants like OpenAI and Google.
