ASML Acquires Stake in Mistral to Boost European AI Ecosystem
ASML, one of Europe’s largest tech firms, has acquired an 11 percent stake in Mistral, a notable company within Europe focused on developing AI models and chatbots that compete with OpenAI’s ChatGPT, reports 24brussels.
This investment forms part of a broader funding round totaling €1.7 billion for Mistral, which is currently valued at €11.7 billion. This collaboration underscores the growing importance of European players in the global AI landscape.
“This investment brings together two technology leaders operating in the same value chain,” stated Mistral’s CEO, Arthur Mensch. The move is particularly significant as U.S. cloud providers account for two-thirds of the European market, while the EU only comprises 7 percent of global AI investments.
The announcement spurred positive reactions, including from Dutch European Parliament lawmaker Bart Groothuis, who characterized the investment, following reports from Reuters about the deal on Sunday, as a “brilliant move.” He emphasized that it contributes to building a robust European AI ecosystem.
The strategic partnership marks a pivotal moment for European technology, aiming to reduce reliance on U.S. giants in the AI sector. This investment not only enhances Mistral’s capabilities but also aligns with broader efforts within the EU to foster innovation and competitiveness in artificial intelligence.
As the AI market continues to evolve, the collaboration between ASML and Mistral may play a crucial role in shaping the future landscape of technology in Europe, promising to increase investment and development opportunities in the region.
