The story

Dutch startup Euclyd raised more than 200 million euros in Series A financing to develop AI chip systems for inference. The round was co-led by Samsung, Somerset Capital Partners, the Scaleup Europe Fund managed by EQT, and Innovation Industries. Other investors included EIFO, the Export and Investment Fund of Denmark, imec.xpand, Brabant Development Agency, and Quadri.

Euclyd, founded in 2024 and headquartered at High Tech Campus Eindhoven in the Netherlands, is designing a chip system with different architecture than GPUs for inference, including the processor and memory architecture. The company said its silicon systems for foundational models will reduce the energy needs and costs of AI data center infrastructure. Former ASML President and CEO Peter Wennink has joined Euclyd as Chairman of the Board.

Euclyd is targeting two revenue streams: selling hardware and physical rack systems to enterprise customers who want secure self-hosted AI inference, and selling its intellectual property to companies that want to develop their own chips. The company's systems have yet to be proven at scale in commercial deployments. OpenAI, Google, AWS, and Meta are all also developing their own AI chips.