Dutch chipmaker ASML is investing 1.3 billion euros in French AI startup Mistral AI, forming a partnership between two top European tech companies. ASML plays a crucial role in the global tech industry, manufacturing equipment for semiconductors, including advanced microchips for AI systems. Mistral, founded in Paris by former Google and Meta researchers, has struggled to compete with American and Chinese AI companies. The deal gives ASML an 11% stake in Mistral, valuing the startup at 11.7 billion euros. The investment is part of a larger funding round involving venture capital firms and chipmaker Nvidia. Mistral CEO Arthur Mensch stated the alliance will accelerate progress in the semiconductor and AI value chain.

Read more at Yahoo Finance: ASML invests $1.5B in French AI startup Mistral, forming European tech alliance