ASML a crucial supplier of advanced chipmaking equipment, is set to become the top shareholder of French artificial intelligence startup Mistral AI in a move to strengthen European tech sovereignty, people familiar with the matter told Reuters.

The Dutch ASML is committing 1.3 billion euros ($1.5 billion) for Mistral’s 1.7 billion euro (~$2 billion) fundraise and is expected to get a board seat at Mistral, said the people, who requested anonymity to discuss private negotiations.

The round will make Mistral the most valuable AI company in Europe with a 10-billion-euro ($11.7 billion) pre-money valuation in its latest Series C funding round, the people said.