According to Reuters, ASML, the Dutch group, which holds the world monopoly on EUV lithography equipment, could become the main investor of the new Mistral.ai financing round. The amount under discussion would be 1.3 billion euros brought by ASML on a total round of 1.7 billion euros, which would make it the first shareholder of the French startup and give it a seat to the board of directors. If it were to be confirmed, the operation would propel Mistral to a pre-money valuation of 10 billion euros, positioning it as the most valued IA company in Europe. But this round table remains complex, both by its magnitude and by the delicate balance between European, American and institutional investors already in the running.
ASML: an improbable but strategic investor
Based in Veldhoven, ASML is the only world supplier of extreme ultraviolet lithography machines, without which neither TSMC, Intel, nor Samsung can produce the most advanced chips. Each machine, sold more than 180 million euros, mobilizes an industrial ecosystem of more than 100 suppliers and constitutes a technological lock of the world chain of semiconductors. With 28.3 billion euros in turnover in 2023 and a market capitalization of more than 260 billion euros, ASML has become a strategic asset closely monitored by the United States and China.
Its entry to the capital of Mistral would have a double scope, first industrial, the Dutch company already uses artificial intelligence to optimize the performance of its tools and could directly benefit from the models developed by Mistral to accelerate its R&D, then geopolitical, associate the European champion of semiconductors with that of AI would constitute an unprecedented response to American and Chinese giants, embodying an alliance of technological sovereignty on a continent level.
Mistral.ai: an extraordinary lifting
Founded in 2023 by Arthur Mensch, Timothée Lacroix and Guillaume Lample, Mistral.ai quickly became the symbol carried by Emmanuel Macron from European ambition in artificial intelligence. Supported from its beginnings by NVIDIA and several venture capital funds, it reached a valuation of more than 6 billion euros in 2023 after its B series.
The tour today in preparation, estimated at 1.7 billion euros, would far exceed European standards and place the startup on the trajectory of world leaders like Openai or Anthropic. According to the Financial TimesMistral had already started discussions with Mubadala and MGX, an Emirati fund co -founded with G42, around a billion dollars. These tracks testify to the intensity of the negotiations in progress and the will to keep Mistral within the framework of Europe.
