Overview

• ASML is committing €1.3 billion of roughly €1.7 billion in Mistral AI’s Series C, positioning it as the top shareholder, according to people cited by Reuters.
• The stake is expected to come with a seat on Mistral’s board, the sources said.
• Reuters reports a pre‑money valuation around €10 billion, while recent coverage elsewhere has pointed to about $14 billion, underscoring conflicting figures.
• If completed on the terms reported, the round would make Mistral the most valuable AI company in Europe, according to the sources.
• ASML and Mistral have not confirmed the details, and sources say ASML could apply Mistral’s AI to enhance lithography tools as Europe seeks alternatives to U.S. and Chinese models.