French artificial intelligence startup Mistral AI has announced the completion of its third funding round. The company has raised €1.7 billion, valuing its market at €11.7 billion.
This development is viewed in two ways: on the one hand, Europe’s only company building large-scale language processing models is making significant progress, and on the other hand, it is forced to compete with international giants, given the multi-billion-dollar investments made by the US OpenAI, Anthropic, as well as Google and Meta.
It is also noteworthy that Mistral AI is partnering with a European company in the new round. In previous rounds, funding was mainly provided by American funds, which are also involved this time.
“The partnership between Mistral AI and ASML will lead to significant benefits for ASML customers, providing innovative products and solutions enabled by AI,” said Christophe Fouquet, CEO of ASML. The company he leads recorded revenue of 28 billion euros in 2024.
