Dutch semiconductor manufacturing equipment company ASML increases its stake as the leading investor in French artificial intelligence company Mistral.
In a significant development for the European tech industry, Dutch tech giant ASML has invested in French AI startup Mistral, valuing the company at an impressive €11.7 billion. The announcement of the fundraising round, which was a record for a French startup, was made on Tuesday.
Mistral, known for its key product, Le Chat - a large language model chatbot, also offers generative AI models capable of producing images and computer code. The fundraising round, amounting to €1.7 billion ($2 billion), nearly doubles Mistral's valuation from its mid-2024 value of €6 billion.
ASML's investment stake in Mistral stands at 15%, making it the top shareholder of the European AI champion. The fundraising round also links Mistral with ASML, a key producer of chips for artificial intelligence models.
While Mistral has reportedly secured a seat on the board for ASML, neither company has confirmed this detail. It's worth noting that the drawing and copyright rights for generative AI models by Mistral, including Le Chat, are typically owned by Mistral itself or specified by their licensing agreements.
Mistral's chatbot Le Chat competes with ChatGPT from OpenAI, adding another layer of competition to the rapidly evolving AI landscape. The fundraising round took place under the second administration of President Donald Trump, reflecting the growing global interest in AI technology.
The news of the investment has been reported by Le Figaro, and with this partnership, Mistral is further solidifying its position as a European AI champion amidst rising concerns about technological sovereignty. The investment by ASML is a testament to the potential of European AI startups and could pave the way for further collaborations in the future.
