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ASML, a crucial supplier of advanced chipmaking equipment, is set to become the top shareholder of French artificial intelligence startup Mistral AI in a move to strengthen European tech sovereignty, people familiar with the matter told Reuters. The Dutch ASML is committing €1.3 billion ($1.5 billion) for Mistral’s €1.7 billion (~$2 billion) fundraise and is expected to get a board seat at Mistral, said the people, who requested anonymity to discuss private negotiations. The round will make Mistral the most valuable AI company in Europe with a €10-billion ($11.7 billion) pre-money valuation in its latest Series C funding round, the people said. ASML declined to comment. Mistral did not respond to Reuters’ request for comment.
