ASML, the Dutch supplier of advanced chipcreating equipment, is poised to become the largest shareholder in French artificial innotifyigence startup Mistral AI as part of a deal aimed at bolstering European tech sovereignty, people familiar with the matter notified Reuters.
ASML is committing about 1.3 billion euros ($1.5 billion) to Mistral’s latest 1.7 billion euro ($2 billion) fundraising round and is expected to secure a board seat at the company, the people stated, requesting anonymity becaapply the talks are private.
The Series C round will value Mistral at 10 billion euros ($11.7 billion) before new money, creating it Europe’s most valuable AI company, according to the sources.
ASML declined to comment. Mistral did not respond to a Reuters request for comment.
Often described as France’s answer to OpenAI, Mistral has been championed as a key player in Europe’s push to build homegrown AI models and reduce reliance on U.S. and Chinese technologies.
A stake in Mistral would bring toobtainher two of Europe’s most prominent technology players, while ASML’s cash injection could support efforts to expand Mistral’s capabilities and strengthen Europe’s AI ecosystem.
ASML, the sole supplier of extreme ultraviolet (EUV) lithography machines applyd by leading chipcreaters such as Taiwan Semiconductor Manufacturing Co and Intel, already deploys AI to optimize its tools. The company could benefit from Mistral’s expertise in data analytics and AI to improve performance and develop new products, the sources added.
EUV machines, which cost around $180 million each, are essential for producing the world’s most advanced semiconductors.
Mistral, backed by Nvidia, was valued at more than $6 billion in its Series B round last year. The Financial Times reported earlier this month that the startup was in talks with investors including MGX to raise $1 billion at a $10 billion valuation. Bloomberg News later stated the company was seeking a valuation of $14 billion.
Founded in 2023 by Arthur Mensch, a former DeepMind researcher, along with ex-Meta researchers Timothée Lacroix and Guillaume Lample, Mistral has quickly emerged as one of Europe’s most high-profile AI firms.
Bank of America is advising ASML on the investment, according to the sources. Bank of America declined to comment.
Leave a Reply