September 9, 2025 — AMSTERDAM / PARIS — In a defining moment for European technology, ASML Holding NV—the Dutch manufacturer of advanced chipmaking equipment—has invested €1.3 billion in Paris-based Mistral AI, becoming the startup’s biggest shareholder and fortifying a strategic alliance between two leading tech players on the continent.
The Series C funding round, which totals €1.7 billion (approximately $2 billion), values Mistral AI at roughly €11.7 billion—making it the most valuable AI firm in Europe. ASML now holds an 11 percent equity stake and has secured a position on Mistral’s strategic committee, with ASML CFO Roger Dassen joining the board.
ASML’s CEO Christophe Fouquet described the investment as a “strategic partnership” aimed at integrating Mistral’s artificial intelligence models across ASML’s products, R&D, and operations to deliver faster, higher-performance lithography tools to customers. He emphasized that the collaboration goes beyond standard vendor-client dynamics, offering joint innovation opportunities that benefit both entities.
Mistral AI CEO Arthur Mensch echoed this sentiment, highlighting the synergy between Mistral’s frontier AI expertise and ASML’s engineering leadership. He noted that the partnership accelerates technological progress across the semiconductor and AI value chains.
This deal is also a clear signal of Europe’s intent to bolster its tech autonomy. Mistral AI positions itself as a homegrown challenger to U.S. giants like OpenAI, Google, and Meta—offering advanced, open-weight AI models developed in Europe.
Fouquet acknowledged that while European origins were not the sole consideration, boosting regional tech sovereignty remains a welcome secondary benefit. Analysts see the move as a coherent industrial strategy—ASML gains tailored AI tools without building them in-house, while Mistral secures a prominent, influential backer.
For ASML, the investment provides access to AI tailored for its lithography systems, enhancing tool efficiency, predictive maintenance, and throughput. For Mistral, it brings capital infusion, industrial credibility, and deeper reach into semiconductor expertise. The valuation leap to nearly €12 billion validates its rapid growth from a 2023 startup to Europe’s AI frontrunner. For Europe as a whole, the deal reinforces the region’s innovation ecosystem and signals reduced reliance on U.S.-based AI models and infrastructure.
Mistral AI was founded in April 2023 by former DeepMind and Meta researchers. It has quickly gained prominence through open-source large language models and enterprise-focused AI products, including its mobile assistant Le Chat. ASML, meanwhile, is the only global provider of extreme ultraviolet lithography machines essential for producing advanced semiconductors. The investment underscores its pivot toward embedding AI more integrally within its hardware solutions.
Both companies see this collaboration as a long-term mutual accelerator—fusing AI innovation with semiconductor manufacturing excellence for faster, smarter, and more efficient future technologies.
Looking Ahead: The ASML–Mistral alliance may become a blueprint for future European tech collaborations—melding hardware and software strengths to counterbalance U.S. and Chinese dominance in AI and chipmaking arenas.
