European tech giant ASML pours billions into AI ambitions across the continent
In a groundbreaking move for the European tech sector, Dutch chipmaker ASML has announced a significant investment in French AI startup Mistral AI. The investment, amounting to €1.3 billion, values Mistral at nearly €12 billion, marking a substantial increase in the startup's valuation.
Founded by Arthur Mensch, Guillaume Lample, and Timothée Lacroix, who previously worked at Google DeepMind and Meta, Mistral AI specializes in developing open-source language models. The company, known as Le Chat in French, is renowned for its focus on privacy in its language models development.
This strategic partnership between ASML and Mistral could lead to advancements in AI technology. Under the terms of the partnership, ASML can test AI models to enhance its own products, while Mistral gains a valuable partner in the global chipmaking industry.
ASML's investment gives the company around 11% ownership of Mistral. This investment is significant for the European AI sector, strengthening the continent's position in the global AI race.
ASML, with a market cap of around €266 billion, is the second most valuable tech company in Europe after SAP. The company's investment in Mistral underscores its commitment to driving innovation and staying at the forefront of technological developments.
Both ASML and Mistral are tech companies, but they specialize in different areas. ASML is a leading player in the chipmaking industry, while Mistral focuses on AI and language models. The strategic partnership between these two companies promises exciting possibilities for the future of technology.
