Mistral AI raises 1.7 billion euros as ASML becomes its top shareholder

French artificial intelligence startup Mistral AI has raised 1.7 billion euros ($2 billion) in its latest funding round led by Dutch chip equipment maker ASML, the companies said on Tuesday, confirming a Reuters report from Sunday.

ASML is investing 1.3 billion euros in Mistral AI as part of a series C funding round, making it Mistral’s main shareholder as it will hold a stake of about 11%.

The latest funding round gives Mistral an 11.7 billion-euro post-money valuation, Mistral said in a statement, becoming the most valuable AI company in Europe.

The…