European AI aspirations receive significant funding from ASML
ASML, the second most valuable technology company in Europe after SAP, has made a significant move in the tech industry by investing €1.3 billion in Mistral, a European AI startup. This strategic partnership has raised Mistral's valuation to nearly €12 billion.
Founded in 2023 by Arthur Mensch, a former researcher at Google's DeepMind, together with Guillaume Lample and Timothée Lacroix, both with backgrounds in AI research, Mistral focuses on developing open-source language models with a strong emphasis on privacy.
With this investment, ASML gains approximately 11% ownership of Mistral. This partnership will allow ASML to test AI models within the collaboration, potentially improving its own products.
ASML, a Dutch company with a market capitalization of approximately €266 billion, is one of the world's leading manufacturers of photolithography equipment for the semiconductor industry. The investment in Mistral marks a strategic move for both companies in the tech industry.
Mistral AI's strong focus on privacy and open-source technology aligns well with ASML's commitment to innovation and technological advancement. This partnership is expected to bring about exciting developments in the field of AI and semiconductor manufacturing.
The funding round for Mistral was led by ASML, making it a major investment for the Dutch chip manufacturer. This investment underscores ASML's confidence in Mistral's potential to contribute to the future of AI technology.
As the tech industry continues to evolve, partnerships like this one between ASML and Mistral are shaping the future of AI and semiconductor manufacturing. This investment is a testament to the potential of European AI startups and the global tech industry's ongoing pursuit of innovation.
