French AI company Mistral AI completes a €1.7 billion Series C funding round, led by Dutch lithography giant ASML.

[French AI company Mistral AI completes €1.7 billion Series C funding, Dutch lithography giant ASML leads the investment] Dutch lithography manufacturer ASML ( ASML.O ) announced an investment of €1.3 billion in French artificial intelligence startup Mistral AI as part of a strategic partnership. According to a statement released on Tuesday, ASML will become the largest shareholder of Mistral with an 11% stake. This investment is part of Mistral's €1.7 billion funding round, bringing its valuation to approximately €11.7 billion, making it one of the most valuable private companies in Europe. This alliance provides support from Europe’s largest and most influential tech companies for the only European firm capable of challenging AI giants like OpenAI. However, ASM CEO Christophe Fouquet stated that the main purpose of this deal is to integrate AI within the company. He noted that the investment and collaboration will enable the company to incorporate Mistral's generative AI services into its equipment and operations.