Mistral AI Secures €1.7 Billion in Series C Funding Led by ASML, Valuing Startup at €11.7 Billion
French artificial intelligence firm Mistral AI has raised €1.7 billion ($2 billion) in a Series C funding round led by Dutch semiconductor equipment giant ASML, which invested €1.3 billion. The deal positions ASML as Mistral's largest shareholder with an 11% stake and catapults the Paris-based startup to a €11.7 billion valuation—making it Europe's most valuable AI company.
The partnership creates a formidable European counterweight to U.S. tech leaders like OpenAI and Google. Mistral CEO Arthur Mensch revealed plans to develop reasoning models specifically optimized for European languages, signaling a strategic differentiation from global competitors. The fresh capital will accelerate research into frontier AI systems targeting industrial applications.
