ASML invests in French startup Mistral AI to strengthen European tech sovereignty
ASML, a key supplier of semiconductor manufacturing equipment, plans to become the main shareholder of French artificial intelligence startup Mistral AI, aiming to boost Europe’s technological independence.
The Dutch company is allocating €1.3 billion to Mistral’s €1.7 billion funding round and, according to sources, will secure a seat on the board of directors. This will raise Mistral’s valuation to €10 billion ($11.7 billion) before the investment, making it Europe’s most valuable AI company.
Mistral, often referred to as “France’s and Europe’s AI champion,” competes with OpenAI and Google. The investment will unite two leading European players: ASML’s funding will help Mistral reduce Europe’s reliance on American and Chinese AI models.
ASML is the world’s only manufacturer of extreme ultraviolet (EUV) lithography systems, which are essential for producing the most advanced chips. Such machines cost around $180 million and are supplied to companies like TSMC and Intel. Leveraging Mistral’s technology could help ASML improve the efficiency of its tools and develop new products.
Mistral was founded in 2023 by Arthur Mensch (ex-DeepMind) and former Meta researchers Timothée Lacroix and Guillaume Lample. Last year, the company raised funds at a valuation of over $6 billion, and the new round could push its worth up to $14 billion.
According to sources, ASML was advised by Bank of America, which declined to comment on the deal.