Dutch chipmaking giant ASML Holding NV (NASDAQ:ASML, ETR:ASME) has become the lead investor in Mistral AI’s latest fundraising, injecting €1.3 billion into the Paris-based company as part of a €1.7 billion round.
The deal values Mistral at €11.7 billion ($13.8 billion), more than double its €5.8 billion valuation from last year, and gives ASML an 11% stake on a fully diluted basis.
Mistral, backed by Nvidia Corp (NASDAQ:NVDA, ETR:NVD) and other major venture funds, is developing large language models to rival those of OpenAI and China’s DeepSeek.
ASML described the investment as a “first-of-its-kind partnership” and will gain a seat on Mistral’s strategic committee. The move provides fresh momentum for Europe’s AI sector as the EU seeks greater independence from Silicon Valley in advanced technologies.