Mistral AI, a French artificial intelligence startup, has raised 1.7 billion euros ($2 billion) in its latest funding round led by Dutch chip equipment maker ASML, the companies said on Tuesday, confirming a Reuters report from Sunday.
ASML is investing 1.3 billion euros in Mistral AI as part of a series C funding round, making it Mistral’s main shareholder holding a stake of around 11%.
In a statement by Mistral, they now have an 11.7 billion-euro post-money valuation after this latest funding round, becoming the most valuable AI company in Europe.
The deal positions the Dutch chip equipment maker as the top backer of Mistral AI, widely considered one of Europe’s best shots at competing with U.S. AI giants such as OpenAI, Meta, and Alphabet’s Google.
Besides ASML, Mistral said that other investors who joined the fundraising are DST Global, Andreessen Horowitz, Bpifrance, General Catalyst, Index Ventures, Lightspeed and NVIDIA.
ASML will also partner with Mistral to integrate AI models across its semiconductor equipment portfolio, gaining a seat on the French startup’s strategic committee through finance chief Roger Dassen.
