ASML Leads €1.7 Billion Investment in Mistral AI, Securing Top Shareholder Position

French artificial intelligence startup Mistral AI has successfully raised €1.7 billion in its Series C funding round, led by Dutch semiconductor equipment giant ASML, positioning itself as Europe's most valuable AI company. The company announced on social media,

"We’ve raised €1.7B to accelerate technological progress with AI! This Series C funding round, led by @ASMLcompany, fuels Mistral AI scientific research to keep pushing the frontier of AI to tackle the most critical technological challenges faced by strategic industries."

ASML committed a substantial €1.3 billion to the funding round, making it Mistral AI's main shareholder with approximately an 11% stake. This investment also grants ASML a seat on Mistral AI's strategic committee, with ASML Chief Financial Officer Roger Dassen expected to assume this role. Other notable investors participating in the round include DST Global, Andreessen Horowitz, Bpifrance, General Catalyst, Index Ventures, Lightspeed, and NVIDIA.

The latest funding round values Mistral AI at an estimated €11.7 billion post-money, solidifying its position as the most valuable AI company in Europe. Founded in 2023 by former researchers from Google DeepMind and Meta, the startup had previously been valued at over $6 billion after its Series B funding round last year, demonstrating rapid growth and investor confidence.

The strategic partnership aims to integrate Mistral AI's models across ASML's product portfolio, including research, development, and operations. ASML CEO Christophe Fouquet stated that "The collaboration between Mistral AI and ASML aims to generate clear benefits for ASML customers through innovative products and solutions enabled by AI." Mistral AI CEO Arthur Mensch added, "This investment brings together two technology leaders operating in the same value chain."

This significant investment is viewed as a major boost for Europe's ambitions in AI, fostering technological independence from U.S. and Chinese dominance. Mistral AI plans to utilize the funds to accelerate scientific research and develop advanced AI solutions tailored for critical and sophisticated challenges faced by strategic industries, further empowering enterprises and public sectors.