Mistral AI Raises €1.7B, Valued at €11.7B, ASML Leads Funding

French artificial intelligence startup Mistral AI has successfully raised €1.7 billion (approximately $2 billion) in a Series C funding round. This substantial investment brings Mistral AI's post-money valuation to €11.7 billion, establishing it as Europe's most valuable AI company. The significant fundraising, confirmed on a Tuesday, was reportedly led by Dutch chip equipment manufacturer ASML, which invested €1.3 billion. This investment makes ASML Mistral AI's principal shareholder, holding an approximate 11% ownership stake. The funding and strategic partnership are designed to bolster Mistral AI's competitive standing against major U.S. AI players such as OpenAI, Meta, and Google. This collaboration will facilitate the integration of Mistral AI's artificial intelligence models across ASML's semiconductor equipment portfolio. Roger Dassen, ASML's Chief Financial Officer, will join Mistral AI's strategic committee, underscoring ASML's significant influence on the startup's governance. This partnership solidifies ASML's role as Mistral AI's primary financial backer. Mistral AI announced that other prominent investors participating in this funding round include DST Global, Andreessen Horowitz, Bpifrance, General Catalyst, Index Ventures, Lightspeed, and NVIDIA, reflecting widespread investor confidence in Mistral AI's future prospects.