Dutch chip machine manufacturer ASML invests 1.3 billion euros in Mistral AI. This values the French ChatGPT competitor at 10 billion euros.
The Dutch chip machine supplier ASML is investing 1.3 billion euros in Mistral AI, bringing the valuation of the French AI company to 10 billion euros. Mistral AI is one of the few credible European alternatives to ChatGPT. The company offers both free and paid versions of its bot ‘Le Chat’. Le Chat includes advanced functionality, such as the ability to reason.
With this investment, Mistral AI would become Europe’s most valuable AI company. Moreover, this makes ASML the largest shareholder. The company also gets a seat on the board. The investment is also intended to reduce dependence on American and Chinese AI models.
Major Shareholder
ASML invests 1.3 billion euros in Mistral AI’s Series C funding round. This investment not only makes Mistral AI the largest AI player in Europe but also makes ASML the company’s largest shareholder.
“The collaboration between Mistral AI and ASML aims to generate clear benefits for ASML customers through innovative products and solutions enabled by AI, and will offer potential for joint research to address future opportunities,” said ASML President and Chief Executive Officer Christophe Fouquet.
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As part of this investment, ASML also gets a seat on Mistral AI’s Strategic Committee, giving ASML an advisory role in Mistral AI’s future strategy and technology decisions. ASML Chief Financial Officer Roger Dassen will take on this role, in addition to his existing responsibilities.
This new investment and collaboration could impact the dependence on American or Chinese AI models, including those from OpenAI or Google. The development of modern large LLMs requires enormous investments. ASML is the world’s only producer of lithography machines for building the most advanced microchips, and consequently has significant capital to support Mistral.