Overview

• ASML is investing €1.3 billion as lead backer, taking roughly an 11% fully diluted stake and an advisory seat for CFO Roger Dassen on Mistral’s Strategic Committee.
• Mistral set an €11.7 billion post-money valuation for the Series C, with participation from DST Global, Andreessen Horowitz, Bpifrance, General Catalyst, Index Ventures, Lightspeed and NVIDIA.
• The long-term collaboration will apply Mistral’s AI across ASML’s product portfolio, research, development and operations to speed customer time-to-market and enhance lithography performance.
• Company statements and political reaction frame the tie-up as a boost to Europe’s push for technological sovereignty by keeping a leading AI player anchored with a European industrial champion.
• The financing is the largest AI venture round in Europe to date, according to deal trackers, making Mistral the region’s most valuable AI startup.