Netherlands-based semiconductor equipment giant ASML Holding NV and France-based Mistral AI have announced a strategic partnership based on a long-term collaboration agreement “to explore the use of AI models across ASML’s product portfolio as well as research, development and operations.”

Further, ASML is investing €1.3 billion in Mistral AI’s Series C funding round as lead investor — resulting in ASML holding an 11% share in Mistral AI.​

ASML will gain a seat on the Strategic Committee of Mistral AI as part of its investment. ASML Chief Financial Officer Roger Dassen will assume this role, in addition to his existing responsibilities.

“The collaboration between Mistral AI and ASML aims to generate clear benefits for ASML customers through innovative products and solutions enabled by AI, and will offer potential for joint research to address future opportunities,” said ASML President and Chief Executive Officer Christophe Fouquet.

“We believe that this strategic partnership with Mistral AI, which goes beyond a traditional vendor-client relationship, is the best way to capture this significant opportunity. We also believe that this collaboration is value enhancing to Mistral AI.”

Mistral AI Co-Founder and Chief Executive Officer Arthur Mensch said: “We are proud to engage in this long-term partnership with ASML, combining our frontier AI expertise with ASML’s unmatched industrial leadership and most sophisticated engineering capabilities.

“We believe this partnership will strengthen Mistral AI’s proposition, position, and value in the AI market. Together, we will accelerate technological progress across the global semi-conductor and AI value chain.”