ASML becomes the largest shareholder in Mistral AI
Key Points
- ASML is investing 1.3 billion euros in French startup Mistral AI, leading a 1.7 billion euro funding round that values Mistral at nearly $12 billion and makes ASML its largest shareholder.
- The deal gives ASML a seat on Mistral's board and is intended to strengthen Europe's tech independence by reducing reliance on American and Chinese AI models.
- Founded in 2023, Mistral AI is considered the only serious European competitor to OpenAI and Google Deepmind, and is also backed by Nvidia and Microsoft.
Dutch chipmaker ASML is investing 1.3 billion euros in French AI startup Mistral AI in a bid to boost Europe's tech independence. The deal puts Mistral's valuation at nearly $12 billion.
Reuters reports that ASML is leading a Series C funding round totaling 1.7 billion euros (about $2 billion), making it Mistral's largest shareholder. ASML supplies the world's only EUV lithography systems, which are essential for manufacturing high-performance chips. Customers like TSMC and Intel reportedly pay around $180 million for each EUV machine. As part of the investment, ASML will take a seat on Mistral's board.
Europe's answer to OpenAI
Founded in 2023, Mistral AI has quickly become the only possible European rival to US leaders like OpenAI and Google Deepmind. The company's founders include Arthur Mensch, formerly of Deepmind, and ex-Meta engineers Timothée Lacroix and Guillaume Lample. Mistral is also backed by US tech giants Nvidia and Microsoft.
Sources told Reuters that ASML's stake is meant to help reduce Europe's dependence on American and Chinese AI models. By teaming up, two of the region's biggest tech players are aiming to strengthen the EU's digital sovereignty.
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