& Nbspeleanor butler
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ASML agreed to invest 1.3 billion euros in the French AI Mistral AI as part of the round of financing in the amount of 1.7 billion euros, two companies said on Tuesday, confirming the previous Reuters report.
Financing of the values of the French undertaking -business at a price of about 11.7 billion euros, more than twice the estimate of 5.8 billion euros, which it reached last year.
It also does Mistral, the European opponent of Sam Altman Openai, one of the most valuable private companies in Europe, despite less than three years of work.
For comparison, Openai is estimated at $ 500 billion (425 billion euros), which means that Europe still plays the game of catching up with American heavy names.
“The cooperation between AIST AI Mistral and ASML is aimed at creating obvious advantages for ASML customers through innovative products and solutions that are activated by artificial intelligence and will provide joint research on the possibility of solving future opportunities,” said the president and general director of ASML, Christoph Fouquet.
Thanks to new investments, the Dutch company will become the largest shareholder of Mistral, with 11%.
Other participants in the Mistral financing round include previous investors such as NVIDIA, BPIFRANCE, Andreessen Horowitz, General Catalyst and DST Global.
Roger Dassen, the financial director of ASML, will also be included in the board of directors of Mistral.
European pioneer?
ASML is one of the most valuable state enterprises in Europe and produces equipment necessary for the production of semiconductor chips, which, in turn, is important for performing artificial intelligence models. In the era of increased geopolitical tension, the agreement between European companies reduces dependence on foreign players, satisfying those who require localization of supply chains.
Cooperation will also allow ASML to integrate artificial intelligence technology into its construction processes. This is an unusual step for Chip Equipment Company, which rarely invests in startups and never previously supports AI.
“We are proud that we are participating in this long -term cooperation with ASML, combining our innovative knowledge -like in artificial intelligence with unsurpassed industrial leadership ASML and the most complex engineering capabilities,” said the co -founder and managing director of Mistral AI.
He added: “We believe that this cooperation will improve the offer, position and value of AI Mistral in the artificial intelligence market.”