French startup Mistral AI has successfully raised €1.7 billion ($2 billion) in a Series C funding round, which was led by Dutch chipmaker ASML. This significant investment values Mistral AI at €11.7 billion, making it the most valuable AI startup in Europe. The deal also grants ASML an 11% ownership stake and a seat on Mistral's strategic committee. This funding aims to help Mistral AI scale its global operations and bolster its competitive strength, signaling Europe's strong ambition to cultivate its own AI leaders capable of rivaling U.S. technology giants.