THE HAGUE, Sept. 9 (Xinhua) -- Dutch semiconductor equipment maker ASML said on Tuesday it will invest 1.3 billion euros (1.5 billion U.S. dollars) in French artificial intelligence startup Mistral AI as part of a strategic partnership to integrate AI across its operations and product portfolio.
ASML will lead Mistral's Series C funding round, giving it an 11 percent stake in the French company "on a fully diluted basis," said the Dutch company in a press release. The deal also secures ASML "an advisory role in Mistral AI's future strategy and technology decisions," with Chief Financial Officer Roger Dassen set to take the role.
The collaboration "aims to generate clear benefits for ASML customers through innovative products and solutions enabled by AI," ASML President and Chief Executive Officer (CEO) Christophe Fouquet said. He added that the partnership will offer "potential for joint research to address future opportunities."
Mistral AI Co-Founder and CEO Arthur Mensch said the deal would combine the AI group's "frontier AI expertise" with ASML's "industrial leadership and most sophisticated engineering," helping strengthen its position in the fast-growing AI sector.
"Together, we will accelerate technological progress across the global semi-conductor and AI value chain," Mensch added.
ASML described the partnership as the "first-of-its-kind partnership between a semiconductor equipment manufacturer and a leading AI company."
"ASML believes that working with Mistral AI will allow both companies to innovate faster together," it added. (1 euro = 1.17 U.S. dollar) ■
