Nvidia -backed Mistral AI clinched a 11.7 billion-euro ($13.8 billion) valuation in a in a Series C funding round that saw Dutch chip equipment maker ASML secure a major stake in the French firm.

ASML pumped 1.3 billion euros in Mistral AI's 1.7 billion-euro funding round as lead investor, gaining a 11% shareholding in the French company on a fully diluted basis.

Other participants in the round included existing investors Nvidia, DST Global, Andreessen Horowitz, Bpifrance, General Catalyst, Index Ventures and Lightspeed.

The investment round, which was previously reported by Reuters, more than doubles Mistral's 5.8-billion-euro valuation achieved during a 600-million-euro funding round last year , as swathes of cash continue to pour into the booming AI industry. Th

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