Eindhoven chip firm Euclyd raises €200m
Eindhoven start-up Euclyd has raised more than €200 million to develop AI chips, and former ASML boss Peter Wennink has...
Eindhoven-based start-up Euclyd has secured over €200 million in funding to develop AI chips, with former ASML leader Peter Wennink taking up the role of chairman of the board, according to a statement released on Tuesday. The company is focused on creating chips specifically for inference, a process where AI models are used rather than trained, and currently relies heavily on Nvidia processors for this task.
Euclyd claims that its chips will consume less power and be more cost-effective compared to existing solutions. When asked about the impact of the investment, Wennink highlighted Europe's strong position in semiconductors, advanced manufacturing, and systems engineering, and emphasized Euclyd's potential to become a globally competitive AI infrastructure platform.
The CEO also pointed out that AI is becoming crucial for economic growth, scientific advancements, and national competitiveness, but its full potential will remain limited unless the underlying infrastructure is significantly improved.
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