Investing $1.5 billion to secure top stake, ASML propels Mistral AI to $11.7 billion valuation.
Dutch chipmaking giant ASML has invested $1.5 billion in French startup Mistral AI, becoming its largest shareholder with an 11% stake. The move marks a significant boost to Europe’s efforts to build a competitive artificial intelligence (AI) ecosystem.
Mistral AI said on Tuesday it raised a total of $2 billion in its latest funding round, giving the company a valuation of $11.7 billion and making it the most valuable AI firm in Europe. Founded in 2023 by ex-researchers from Google DeepMind and Meta, Mistral has quickly emerged as Europe’s flagship AI player, offering an alternative to US heavyweights OpenAI, Google, and Meta.
As part of the deal, ASML will also collaborate with Mistral to integrate AI models across its semiconductor equipment portfolio. ASML’s Chief Financial Officer, Roger Dassen, will join Mistral’s strategic committee, strengthening ties between the two firms.
The investment underscores Europe’s ambition to build AI leadership, pairing one of its most innovative chipmakers with a fast-rising AI startup. France has been actively backing Mistral as part of its strategy to position itself as a global AI hub.
Despite the milestone, Mistral’s valuation remains modest compared with its US peers. OpenAI, for instance, is reportedly eyeing a $500 billion valuation, more than 40 times Mistral’s worth.
ASML’s links to France have also deepened in recent months, with former French Finance Minister Bruno Le Maire serving as a special adviser to its executive board and Frenchman Christophe Fouquet taking over as CEO in 2024. Analysts say the partnership gives ASML an easier route to AI integration while bolstering Europe’s bid for technological sovereignty.
