Samsung backs Nvidia rival Euclyd in $230M Series A
What's the deal? Dutch startup Euclyd has raised a €200 million ($230 million) Series A to build AI inference chips designed to rival Nvidia. SamsungDealroom has a profile for this one. Try Dealroom → co-led the round alongside Somerset Capital PartnersDealroom has a profile for this one. Try Dealroom →, the Scaleup Europe Fund managed by EQTDealroom has a profile for this one. Try Dealroom →, and Innovation IndustriesDealroom has a profile for this one. Try Dealroom →.
What's the endgame? Founded in 2024, Euclyd is designing a chip system — processor and memory architecture — with a different design than GPUs, aimed at AI inference. It plans two revenue streams: selling hardware and rack systems to enterprises wanting self-hosted inference, and licensing its intellectual property to firms building their own chips.
Why now? Nvidia became the world's most valuable company after its GPUs, first built for gaming, were repurposed for training and running AI models. It holds a near monopoly on the highest-end chips, prompting hyperscalers and startups to pursue alternatives.
Why it matters: The round ranks as the largest Series A ever for a Dutch semiconductor company, out of 274 comparable rounds. It reflects surging investor appetite for GPU alternatives as AI data-centre costs and energy demands climb.
Euclyd says its silicon will cut the energy needs and costs of AI infrastructure. Chief executive officer Bernardo Kastrup framed the stakes broadly: "AI is becoming a foundation of economic growth, scientific discovery and national competitiveness, but its potential will remain constrained unless we fundamentally change the infrastructure beneath it."
What could go wrong? Euclyd's systems have yet to be proven at scale in commercial deployments. It aims to start rolling out physical chip systems in 2028 and serve thousands of enterprise customers by 2030.
Kastrup said Samsung, one of the world's biggest memory manufacturers, brings more than capital. "Samsung can help us in more ways than money," he said. "They do a lot of engineering, they know a lot about systems, they know the supply chain, they have a huge network."
The signal: Euclyd joins a crowded field of Nvidia challengers. OpenAI announced its first chip, the Jalapeño, in August, while GoogleDealroom has a profile for this one. Try Dealroom →, AWSDealroom has a profile for this one. Try Dealroom →, and Meta are all developing their own AI processors — a sign the market is racing to loosen Nvidia's grip.
Read more: CNBC
Image credit: .RGB.
