Overview

• ASML is said to commit €1.3 billion of Mistral AI’s €1.7 billion Series C and is expected to gain a board seat, according to people cited by Reuters.
• The round reportedly implies a roughly €10 billion pre-money valuation that would make Mistral the most valuable AI company in Europe.
• ASML and Mistral did not provide on-the-record confirmations, with ASML declining comment and Mistral not responding to requests.
• Sources say the tie-up could pair ASML’s lithography and AI-driven tooling with Mistral’s models and data analytics to accelerate product and R&D gains.
• Background details reported include Nvidia’s backing of Mistral, its rapid rise since 2023, ASML’s role as the sole EUV supplier to TSMC and Intel, and Bank of America’s advisory role to ASML.