ASML Is Now Mistral AI’s Biggest Shareholder

ASML, a crucial supplier of advanced chipmaking equipment, is set to become the top shareholder of French artificial intelligence (AI) startup Mistral AI in a move to strengthen European tech sovereignty, people familiar with the matter told Milana Vinn and Max A. Cherney of Reuters.

ASML is the world’s only manufacturer of extreme ultraviolet (EUV) lithography systems for chipmakers. (Photo: ASML Facebook) 

The Dutch firm is committing 1.3 billion euros ($1.5 billion) toward Mistral’s 1.7 billion euro (~$2 billion) fundraise and is expected to secure a board seat, the people said, requesting anonymity to discuss private negotiations.

The round will make Mistral the most valuable AI company in Europe, with a pre-money valuation of 10 billion euros ($11.7 billion) in its latest Series C funding.

Often described as France’s and Europe’s AI champion, Mistral competes with U.S. giants such as OpenAI and Alphabet’s Google.

A stake in Mistral would tie together two European technology leaders, while ASML’s investment could help Europe reduce reliance on U.S. and Chinese AI models, the sources said.

ASML makes lithography equipment crucial for advanced chip production and already uses AI to make its tools more efficient.

The company could benefit further from Mistral’s data analytics and AI expertise to improve performance and develop new products.

ASML is the world’s only manufacturer of extreme ultraviolet (EUV) lithography systems for chipmakers such as Taiwan Semiconductor Manufacturing Co. and Intel. EUV machines cost around $180 million each and are necessary to produce the most advanced chips.