Mistral AI raises 1.7 billion euro series c to scale ai model manufacturing

European AI startup Mistral AI secured €1.7 billion in Series C funding led by ASML, valuing the company at €11.7 billion. The capital will support expansion of chip design for large language models, infrastructure scaling and enterprise applications. Observers view the raise as symbolic of Europe’s push to catch up with US- and China-based AI leaders. Mistral plans to establish a model-manufacturing hub in Europe and collaborate with ASML’s semiconductor ecosystem to reduce dependence on external cloud infrastructure.