Euclyd Raises Over €200M for AI Chip Platform

The Series A round was co-led by Samsung Electronics, Somerset Capital Partners, the EU’s Scaleup Europe Fund and Innovation Industries. Euclyd also named Peter Wennink, ASML’s former chief executive, as chairman, a sign the company is trying to marry European chip credentials with deeper access to the global semiconductor ecosystem.

For investors, the raise adds another challenger to Nvidia’s GPU-led model at a time when capital is still flooding into AI infrastructure, but scrutiny is also rising over energy use, returns on spending and how long hyperscalers can keep expanding capacity. If Euclyd can translate its design into working silicon and commercial deployments, it could open a new lane for AI compute suppliers beyond the current GPU bottleneck.

The startup, founded in 2024, says its architecture processes data in multiple locations at once rather than moving it through memory in the traditional way. It argues that would reduce energy use, lower costs and shrink the footprint of AI data centers, with applications spanning enterprise, sovereign and hyperscale customers.

Its emergence also fits a broader European effort to build more domestic semiconductor capability as geopolitical tensions and U.S. export controls push governments and companies to reduce reliance on foreign suppliers. Still, Europe’s chip startups face a tough climb against a manufacturing base that remains far thinner than those in the U.S., Taiwan and South Korea.

The company has not yet disclosed a public market valuation, and its technology remains unproven at scale. The next test is whether it can turn the new capital and Samsung-backed support into a commercial product before the AI chip race hardens further around Nvidia, AMD and the foundry and equipment giants that supply them.