Mistral cements AI lead in Europe

FRANCE'S Mistral yesterday cemented its position as Europe's top AI hope against far larger US and Chinese competitors after a record fundraising round and a tie-up with chipmaking equipment heavweight ASML.

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The e1.7 billion (about R35bn)cash infusion values Mistral at e11.7bn, double its heft last year but a fraction of the $183 billion (about R3 trillion) price tag placed on US firm Anthropic this month.

ASML, a key producer of the machines that churn out the chips powering artificial intelligence models, was the lead investor, with a e1.3-bn infusion that gives the Dutch company an 11% stake in Mistral.

Mistral has been touted as a European AI champion as technological sovereignty concerns fester between the EU and the US under the second administration of President Donald Trump.

The deal “aims to generate clear benefits for ASML customers through innovative products and solutions enabled by AI,” the Dutch firm's boss Christophe Fouquet said in a statement, pointing to “potential for joint research” in future.