Mistral AI, the Paris-based startup rapidly establishing itself as Europe’s leading AI company, has secured a €1.3 billion investment from Dutch semiconductor equipment maker ASML in its ongoing Series C funding round. This round, totalling approximately €1.7 billion, values Mistral at around €14 billion, with ASML emerging as the largest shareholder in the company.
With Google and Amazon funnelling billions into their AI ventures, this move places ASML as a critical player in the global semiconductor industry. Other investors in Mistral include Nvidia, Microsoft, Andreessen Horowitz, and General Catalyst. Mistral’s revenue has surged from €10 million in 2023 to €60 million by 2025, fueled by enterprise adoption and strategic partnerships.
Founded in 2023 by former DeepMind and Meta researchers Arthur Mensch and Guillaume Lample, Mistral’s edge lies in its open-weight large language models. Their approach grants enterprises greater transparency and flexibility compared to closed, proprietary systems.
Mistral’s flagship AI assistant, Le Chat, is operational at clients such as Free Mobile and BNP Paribas. Collaborations with Microsoft’s Azure platform, along with major French corporations like AXA and Stellanti, have helped accelerate its market presence.
From ASML’s perspective, this investment secures a foothold in a rapidly scaling AI company while opening doors to integrate Mistral’s AI capabilities, enhancing its lithography machines, which are essential for producing the world’s most advanced chips.
Industry observers note that ASML’s move aligns with its broader strategy, which includes exploring markets like India amid geopolitical tensions affecting its China business, as well as strengthening Europe’s position in key technology sectors.
