ASML’s €1.3 Billion Mistral Deal Spurs Upgrades and Fresh Buying

The partnership aims to embed Mistral’s models across ASML’s R&D to accelerate advances in lithography.

Overview

On September 9, ASML invested €1.3 billion in France’s Mistral AI, becoming its largest shareholder in what reports describe as Europe’s largest AI deal.
ASML says the collaboration will integrate Mistral’s AI models into its research workflows and product offerings to enhance lithography and related processes.
Arete Research upgraded ASML to Buy for the first time in seven years with a €879 price target, citing potential benefits from expected TSMC capex above $50 billion in 2026 and 2027.
UBS analyst Francois-Xavier Bouvignies raised the rating to Buy on September 5, pointing to renewed confidence in the company’s lithography business and rising lithography intensity.
Shares rose 6.56% to $867.30 after an analyst upgrade, and an SEC filing shows SCS Capital added 706 shares valued at $468,000.