Dutch Startup Euclyd Pursues €100 Million to Challenge Nvidia's AI Dominance

2026-04-17 semicon

Eindhoven, Friday 17 April 2026
Seeking €100 million in fresh capital, Dutch startup Euclyd aims to rival Nvidia by developing European artificial intelligence chips that boast 100 times greater power efficiency.

Redefining AI Inference Architecture

Founded in 2024, Euclyd represents a growing European ambition to disrupt the global semiconductor landscape amidst a broader surge in funding demand [2][4][5]. The company is developing a novel multi-chiplet system specifically tailored for artificial intelligence inference—the process where trained AI models generate predictions or decisions based on new data [2][GPT]. According to founder Bernardo Kastrup, a former director at the Dutch semiconductor equipment giant ASML, Euclyd’s architecture processes data across multiple locations rather than relying on a centralised graphics processing unit (GPU) [2][3]. This approach purportedly delivers up to 100 times greater power efficiency compared to Nvidia’s Vera Rubin chips, significantly reducing the energy consumption and physical footprint of AI data centres [2][3][4].

Leveraging the Benelux Semiconductor Ecosystem

Euclyd’s emergence is deeply intertwined with the established European semiconductor value chain, particularly in the Netherlands. The startup is backed by Peter Wennink, the former chief executive of ASML, who serves as both an advisor and investor [2][3][4]. ASML holds a virtual monopoly in manufacturing advanced lithography equipment, which is essential for printing integrated circuits on silicon chips [1]. By drawing on the expertise of veterans from such foundational companies, Euclyd aims to strengthen European strategic autonomy in a sector traditionally dominated by American and Asian firms [4][GPT].

The Transatlantic Capital Divide

Despite this growing momentum, European deep tech ventures face a stark funding disparity compared to their American counterparts. As of April 2026, European AI chip startups have raised approximately $800 million, a mere fraction of the $4.7 billion secured by U.S. competitors during the same period [3][4][6]. This means the European funding pool equates to roughly 17.021 per cent of the American total. Furthermore, established giants possess formidable financial resources; for instance, Nvidia spent over $18 billion on research and development in its fiscal year ending January 2026 [2][4]. Nvidia has also aggressively expanded its technological footprint, acquiring assets from Groq for $20 billion in December 2025 and investing $4 billion into two integrated photonics companies in March 2026 [2][4].

Geopolitics and the Push for Sovereign Compute

The drive to fund companies like Euclyd is increasingly fuelled by geopolitical imperatives. U.S. export controls and a high concentration of manufacturing risk surrounding Taiwan Semiconductor Manufacturing Company (TSMC) are prompting European nations to seek supply chain resilience [4][GPT]. Schneider-Sikorsky emphasises that a “genuine European sovereign compute imperative” is pushing capital toward homegrown silicon [4].

Sources & Ecosystem Partners

Semiconductor funding AI chips