Johann Wilfred
- Chipmaking company ASML has agreed to invest 1.3 billion euros in Mistral AI
- ASML led the Series C funding round for the AI firm, which saw overall investment of 1.7 billion euros
- At the time of writing, ASML shares were priced at $796.25, up by 1.86%
Chipmaking company ASML has agreed to invest 1.3 billion euros in Mistral AI, as per announcements made by both companies alongside a strategic partnership that will explore the potential of the emerging technology in ASML’s product lines and services.
ASML was the leading investor for the funding round
ASML led the Series C funding round for the AI firm, which saw overall investment of 1.7 billion euros, giving the company a valuation of 11.7 billion euros.
Other investors who participated were DST Global, Andreesen Horowitz, Bpifrance, General Catalyst, Index Ventures, Lightspeed, and NVIDIA.
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As a result of the investment, ASML will hold an 11% stake in Mistral and will also have a seat on the strategic committee of Mistral, a position that will be occupied by Chief Financial Officer Roger Dassen.
“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 CEO Christophe Fouquet.
“This investment brings together two technology leaders operating in the same value chain,” said Mistral CEO Arthur Mensch
We have the ambition to help ASML and its numerous partners solve current and future engineering challenges through AI, and ultimately to advance the full semiconductor and AI value chain,” He also said.
Source: Google Finance
At the time of writing, ASML shares were priced at $796.25, up by 1.86%. The move could represent a stronger network between the France-based companies that want to improve their offerings without turning to overseas partners.
