Europe’s Most Valuable AI Startup Now, Thanks to €1.3 Billion Investment

ASML invested €1.3B in Mistral AI’s Series C, becoming top shareholder and lifting the startup’s value to €10B, Europe’s largest AI firm.

ASML committed €1.3 billion to the Series C funding for Mistral AI, tipping the French startup’s valuation to €10 billion, the highest for any AI company in Europe. Bank of America advised on the deal.

The move aims to advance European technological independence and may enable ASML to incorporate Mistral’s AI into its build-to-order chipmaking systems, which is a step in line with Europe’s broader sovereign AI ambitions.

How the deal came together

ASML, the Dutch provider of advanced lithography machines, led Mistral AI’s latest investment round by putting in €1.3 billion of a €1.7 billion raise, making it the startup’s ...