Samsung leads $230 million funding round in unnamed Dutch AI chip startup seeking to build Nvidia alternatives for inference and training.

Nvidia rose to become the world’s most valuable company after its graphics processing units (GPUs), originally designed for gaming, were repurposed for AI training and inference. Amid a broader boom in venture capital targeting alternatives to Nvidia’s market dominance, Dutch AI chipmaker Euclyd has secured backing from Samsung in a $231 million funding round, according to a CNBC report. The 200-million-euro Series A round was co-led by Samsung, Somerset Capital Partners, Innovation Industries, and the EQT-managed Scaleup Europe Fund, CEO Bernardo Kastrup told CNBC.

Launched in 2024, Euclyd is developing specialized chip systems for AI inference that feature an alternative processor and memory architecture distinct from traditional GPUs. While Nvidia currently holds a near-monopoly on high-end silicon, tech hyperscalers and startups are increasingly developing their own processors to handle AI workloads. In August, OpenAI announced that its first AI chip, the Jalapeño, had achieved “industry-leading speed and efficiency,” while Google, AWS, and Meta pursue similar objectives.

Kastrup emphasized that the industry must evolve beyond current hardware constraints. “AI is becoming a foundation of economic growth, scientific discovery and national competitiveness, but its potential will remain constrained unless we fundamentally change the infrastructure beneath it,” he told CNBC. Although Euclyd’s systems have yet to be tested at a commercial scale, the company states its chips will significantly reduce the surging energy demands and operational costs of AI data centers.

Moving forward, Euclyd plans to target two primary revenue streams: selling server racks to enterprises for secure on-premises inference and licensing its chip designs to firms developing custom silicon. Kastrup highlighted that Samsung’s involvement extends far beyond capital. “Samsung can help us in more ways than money,” said Kastrup, noting that the phone company is one of the biggest memory manufacturers in the world. “They do a lot of engineering, they know a lot about systems, they know the supply chain, they have a huge network.”

Euclyd aims to begin rolling out its physical chip systems in 2028, with plans to serve thousands of enterprise customers by 2030, Kastrup told CNBC.