Introduction
Samsung has backed Dutch AI chip startup Euclyd in a 200 million euro, roughly $231 million, Series A funding round, adding another name to the growing list of challengers seeking to chip away at Nvidia's dominance in AI hardware. The round, reported by CNBC on September 14, 2026, was co-led by Samsung alongside Somerset Capital Partners, the Scaleup Europe Fund managed by EQT, and Innovation Industries.
What Euclyd Is Building
Founded in 2024, Euclyd is designing an AI chip system with an architecture distinct from conventional GPUs, specifically targeting AI inference, the process of running an already-trained model to generate outputs. According to CEO Bernardo Kastrup, the company's processor and memory design aims to reduce the energy consumption and operating costs associated with AI data centre infrastructure, an increasingly urgent concern as data centre power demand strains electricity grids worldwide.
Key Facts
- Euclyd raised a 200 million euro (approximately $231 million) Series A round.
- Samsung co-led the round alongside Somerset Capital Partners, EQT's Scaleup Europe Fund, and Innovation Industries.
- The startup is targeting AI inference workloads with a non-GPU processor and memory architecture.
- Euclyd plans to roll out physical chip systems in 2028, targeting thousands of enterprise customers by 2030.
- The company intends to generate revenue both from hardware sales and from licensing its underlying chip architecture.
Why Samsung's Involvement Matters
Samsung's participation brings more than capital. According to Kastrup, Samsung's expertise in memory manufacturing, systems engineering and supply chain management gives Euclyd access to resources beyond what a typical venture investor could offer. Samsung has separately continued expanding its footprint in the AI chip ecosystem, including manufacturing chips on advanced process nodes for other AI accelerator startups, positioning the company to benefit broadly from any diversification away from Nvidia-dominated infrastructure.
Table: Euclyd's Business Model
| Revenue Stream | Description |
|---|---|
| Hardware Sales | Physical rack systems for enterprise customers wanting self-hosted AI inference |
| IP Licensing | Licensing chip architecture to companies building their own processors |
Part of a Broader Anti-Nvidia Investment Wave
Euclyd's raise is one of several notable investments this month targeting Nvidia's dominant position in AI chips. Samsung separately participated in a $250 million round for South Korean AI chip startup Rebellions, now valued at $1.4 billion, with Samsung's foundry division already manufacturing Rebellions' chips on its advanced process nodes. Combined with reports of Qualcomm's large-scale AI chip supply deal with Amazon and Positron's $875 million raise to build inference-focused hardware, September 2026 has seen an unusually concentrated wave of capital directed at Nvidia alternatives.
The Nvidia Backdrop
Nvidia became the world's most valuable company after its graphics processing units, originally built for gaming, were repurposed for AI training and inference at scale. That dominance has fed growing interest among hyperscalers and chip manufacturers alike in developing or backing alternative architectures, both to reduce dependency on a single supplier and to capture a share of a market expected to keep growing as AI infrastructure spending accelerates.
Expert Insight
Semiconductor analysts note that Euclyd's chip system has yet to be proven at commercial scale, with its 2028 launch target still two years away. Whether the company's energy-efficiency claims hold up in real-world enterprise deployments will likely determine if it can capture meaningful market share, given that Nvidia's CUDA software ecosystem continues to represent a significant switching cost for enterprise customers considering alternative hardware.
Key Takeaways
- Samsung co-led a $231 million Series A round for Dutch AI chip startup Euclyd.
- Euclyd is building a non-GPU chip architecture targeting AI inference workloads.
- The company plans to launch physical chip systems in 2028.
- The investment is part of a broader September 2026 wave of capital targeting Nvidia alternatives.
FAQ
How much did Euclyd raise?
Euclyd raised a 200 million euro, approximately $231 million, Series A round co-led by Samsung and three other investors.
What does Euclyd's chip target?
The company is designing a non-GPU processor and memory architecture specifically for AI inference workloads, aiming to reduce energy costs.
When will Euclyd's chips be available?
The company plans to begin rolling out physical chip systems in 2028, targeting thousands of enterprise customers by 2030.
Conclusion
Euclyd's raise adds another data point to a rapidly intensifying race to build credible alternatives to Nvidia's AI chip dominance. With a 2028 launch still some way off, the company's ultimate success will depend on whether its energy-efficiency promises translate into real commercial traction once its systems actually reach customers.
