French AI firm Mistral has solidified its position as Europe’s leading AI contender with a staggering €17 billion investment round. The funding, led by Dutch chip manufacturer ASML, granted the sponsor an 11% stake and a seat on Mistral’s strategic committee. The company’s valuation doubled to €117 billion, showcasing rapid growth yet highlighting the gap compared to U.S. rival Anthropic’s €183 billion mark. Mistral stands apart through its commitment to open-source AI models, allowing developers worldwide to adapt and improve them. Strategic collaborations, including NVIDIA and MGX, reflect Mistral’s ambitions for global AI influence. By partnering with ASML, Mistral aims to advance innovation across both AI models and semiconductor technology