AI firm Mistral valued at $14 billion as chip giant ASML takes major stake

Nvidia

-backed Mistral AI clinched a 11.7 billion-euro ($13.8 billion) valuation in a in a Series C funding round that saw Dutch chip equipment maker ASML

secure a major stake in the French firm.

ASML pumped 1.3 billion euros in Mistral AI’s 1.7 billion-euro funding round as lead investor, gaining a 11% shareholding in the French company on a fully diluted basis.

The investment round, which was previously reported by Reuters, more than doubles Mistral’s 5.8-billion-euro valuation achieved during a 600-million-euro funding round last year, as swathes of cash continue to pour into the booming AI industry. The fundraising round turns ASML into one of Mistral’s top shareholders.