ASML partners with Mistral AI

ASML is forming a strategic alliance with Europe’s top AI startup Mistral. Cemented by a 1.3-billion-euro investment, the long-term collaboration will explore the use of AI models across the litho giant’s product portfolio as well as research, development and operations. “We believe that this strategic partnership with Mistral AI, which goes beyond a traditional vendor-client relationship, is the best way to capture this significant opportunity. We also believe that this collaboration is value-enhancing to Mistral AI,” says ASML CEO Christophe Fouquet.

The deal gives ASML an 11 percent stake in Mistral and a seat on the company’s strategic committee, which will be assumed by CFO Roger Dassen, in addition to his existing responsibilities. Following the now-completed Series C investment round, the Nvidia-backed French firm is valued at 11.7 billion euros. The company’s services include Le Chat, a competitor to OpenAI’s ChatGPT, Anthropic’s Claude and Google’s Gemini.

This isn’t ASML’s first strategic venture aimed at bolstering European tech sovereignty. In 2023, the company teamed up with NXP and VDL Groep to help Smart Photonics raise 100 million euros, expanding Eindhoven’s photonic integrated circuit production capacity.