Mistral AI has raised €1.7 billion in a Series C funding round, reaching an €11.7 billion post-money valuation. This milestone reinforces the company’s mission to advance decentralized frontier AI solutions that empower enterprises, governments, and industries to tackle their most complex technological challenges.

The round was led by ASML Holding NV (ASML), the world’s leading semiconductor equipment manufacturer. “ASML is proud to enter a strategic partnership with Mistral AI,” said Christophe Fouquet, CEO of ASML, adding that the collaboration will deliver AI-enabled innovations for ASML customers while opening opportunities for joint research across the semiconductor value chain.

Participation also came from existing investors including DST Global, Andreessen Horowitz, Bpifrance, General Catalyst, Index Ventures, Lightspeed, and NVIDIA.

According to Mistral AI CEO Arthur Mensch, the partnership aligns two technology leaders in the same ecosystem: “Our ambition is to help ASML and its partners solve current and future engineering challenges through AI, advancing the semiconductor and AI value chain.”