In sum – what to know:
ASML invests €1.3B in Mistral – The Dutch chipmaker’s backing makes it the AI startup’s largest shareholder and secures a board seat.
Mistral hits €10B valuation – The funding marks rapid growth for the French firm, which competes with global AI leaders.
Push for European sovereignty – The move strengthens Europe’s bid to reduce dependence on U.S. and Chinese AI ecosystems.
Dutch chip equipment maker ASML has reportedly become the largest shareholder in French startup Mistral AI after leading a €1.7 billion ($2 bilion) series C round, according to Reuters.
ASML is said to have invested €1.3 billion ($1.5 billion), giving Mistral a pre-money valuation of €10 billion. The deal is expected to secure ASML a board seat, according to the report. Bank of America advised ASML on the transaction.
The investment is widely seen as part of Europe’s push for technological sovereignty, aiming to reduce reliance on U.S. and Chinese AI systems while backing homegrown players.
Founded in 2023, Mistral has become one of Europe’s most prominent AI startups, competing with OpenAI and Google. It is already backed by Nvidia and raised €600 million in 2024, led by General Catalyst, at a valuation of around €6 billion.
ASML, best known for its lithography systems essential to advanced chip production, supplies key manufacturers including TSMC.
The news follows reports in July that Mistral was seeking up to $1 billion from investors such as Abu Dhabi’s MGX, also at a $10 billion valuation.
