Eindhoven AI chip-making company Euclyd raises €200 million from investors

Eindhoven-based AI chip manufacturing company Euclyd has raised over 200 million euros from investors in the first large financing round of the start-up. The company, founded in 2024 at the High Tech Campus in Eindhoven, recently announced that Peter Wennink, the former CEO of ASML, will be chairman of the board.

The investors include South Korean tech and chip company Samsung, Dutch investor Somerset Capital Partners, and investment funds owned by the European Union and Denmark.

In April, Euclyd’s founder and CEO Bernardo Kastrup said that they were hoping to raise 100 million euros from the investment round. The company wishes to use the money to manufacture chips for the use of Artificial Intelligence at a larger scale.

Euclyd makes chips for the process in which AI models, after they have been trained, make predictions or take decisions based on the data they receive. As AI models grow more powerful, they demand greater amounts of energy, memory bandwidth, and investment, while the infrastructure needed to support them is becoming increasingly complex.

The company is "developing a platform consisting of purpose-built processors, memory architecture, and data center systems designed to significantly reduce the cost, energy consumption, and footprint of AI." According to Wennink, Euclyd is leveraging Europe's capabilities in semiconductors, advanced manufacturing, and systems engineering to build a "globally competitive AI infrastructure platform."