ASML Invests €1.3 Billion in Europe’s AI Champion Mistral (2)

ASML Holding NV is investing €1.3 billion ($1.5 billion) in France’s Mistral AI, an unusual move for the Dutch chipmaking equipment company that shores up Europe’s most important artificial intelligence startup.

With the investment, ASML becomes the largest shareholder in Mistral with an 11% stake, the companies said in a statement on Tuesday. Mistral, which develops AI models and a chatbot, said the investment is part of a €1.7 billion funding round. That roughly doubles its valuation to €11.7 billion and makes it one of Europe’s most valuable private companies.

The alliance gives Mistral, Europe’s only credible rival to ...