Samsung Backs Nvidia Rival Euclyd in $230M AI Chip Round
Samsung co-led a $230 million investment in Dutch AI chip startup Euclyd, signaling growing momentum behind GPU alternatives.
Samsung joined forces with Somerset Capital Partners, the Scaleup Europe Fund, and Innovation Industries to co-lead a $230 million funding round for Dutch AI chip startup Euclyd, a move that underscores the accelerating race to challenge Nvidia's dominance in the artificial intelligence hardware market.
The investment marks a significant vote of confidence in Europe's semiconductor ambitions at a moment when demand for GPU alternatives is surging. Enterprises and cloud providers worldwide are actively seeking more efficient, cost-effective AI accelerators as Nvidia chips remain constrained and expensive, creating a commercial opening for challengers like Euclyd.
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Samsung's participation is particularly notable given the South Korean tech giant's own stake in the semiconductor industry as both a chip manufacturer and consumer. By backing a Nvidia rival, Samsung signals a strategic interest in diversifying the AI chip ecosystem — and potentially securing a foothold in next-generation accelerator technology before it matures.
The backing from European-focused funds including the Scaleup Europe Fund and Innovation Industries also reflects a broader push by the continent to cultivate homegrown semiconductor champions capable of competing on the global stage, a priority that has intensified since the passage of the EU Chips Act. Euclyd's raise is one of the largest European AI hardware funding rounds in recent memory, positioning the startup as a key player to watch as the GPU alternatives market expands rapidly.
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