EU Startups Secure Funds to Compete with Nvidia Chips

Euclyd, a startup founded in 2024 by former ASML director Bernardo Kastrup, has successfully raised less than €10 million (approximately US$11.8 million) to develop its own AI chip technology aimed at rivaling Nvidia's well-established GPU lineup. This funding furthers the ambition to create localized alternatives in the semiconductor market, particularly for AI applications where processing power is critical.

The investment signifies a notable shift in the EU's approach to semiconductor development, encouraging homegrown innovation to reduce dependency on foreign suppliers. This move is aligned with broader national strategies for building sustainable AI infrastructure while enhancing the EU's competitive stance in the global tech landscape.