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nvidia– Mistral AI backed up to 11.7 billion euros ($13.8 billion) valuation in A in the Series C funding round that saw Dutch chip equipment manufacturers ASML Secure large stakes in French companies.
ASML has put 1.3 billion euros as a lead investor in Mistral AI’s 1.7 billion euro funding, diluting its 11% stake in the French company completely.
The investment round previously reported by Reuters has more than doubled the Mistral’s valuation of 5.8 billion euros and euros in the 600 million euros funding round last year. The funding round will turn ASML into one of Mistral’s top shareholders.
One of Europe’s most competitive tech startups and widely seen as a regional rival to Sam Altman’s open-rai, Mistral is building a large-scale language model that forms the basis for AI applications such as chatbots. AI companies frequently need huge investments in infrastructure to support this development.
Earlier in the summer, Mistral CEO Arthur Mensch told CNBC’s Arjun Halpal during London Tech Week that the company was launching its first inference model.
This fast news article has been updated.
