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Nvidia rival tells CNBC it's seeking at least $100 million in funding as European AI chip market booms

Cnbc · · 944 words · By Kai Nicol-Schwarz
open_in_new Read the original article: https://www.cnbc.com/2026/04/17/nvidia-rivals-chip-market-funding-ai-asml-euclyd…

fact_checkFact-Check Results

16 claims extracted and verified against multiple sources including cross-references, web search, and Wikipedia.

check_circle Corroborated 8
schedule Pending 6
info Single Source 1
help Insufficient Evidence 1
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“Dutch company Euclyd, backed by the former CEO of chipmaking equipment giant ASML, is currently in discussions with investors for a round of at least 100 million euros ($118 million)”
CORROBORATED
Multiple independent web sources (CNBC, and other reports) confirm Euclyd is seeking at least 100 million euros / $118 million in funding.
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web search NEUTRAL — Euclyd is in discussions with four potential clients, aiming to supply two next year and two the year after.French retail SaaS Dealt targets €6M for European expansion. French SaaS Dealt has raised €6…
https://techfundingnews.com/euclyd-100m-ai-inference-chip-st…
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web search NEUTRAL — Euclyd is developing AI chips that operate in a system which it says can deliver 100x higher power efficiency for inference compared to Nvidia's latest generation Vera Rubin chips. Nvidia did not resp…
https://www.bundle.app/en/technology/nvidia-rival-tells-cnbc…
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web search NEUTRAL — • Euclyd, an AI chip startup is seeking $100 million in funding to develop GPUs to rival Nvidia (NVDA). •According to Euclyd founder Bernardo Kastrup, the company is expecting to raise at least $118 m…
https://www.tipranks.com/news/nvidia-nvda-rival-charges-into…
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“U.K. startup Optalysys is planning a $100 million plus fundraise later this year”
CORROBORATED
Two separate reports (CNBC and another news summary) mention Optalysys is planning a $100 million plus fundraise later this year.
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web search NEUTRAL — Leeds-based photonic computing company Optalysys today announced that it has raised €26.4 million (£23 million) in a Series A extension round to accelerate the commercialisation of its proprietary pho…
https://www.eu-startups.com/2026/01/leeds-based-optalysys-ra…
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web search NEUTRAL — Optalysys, a hardware startup, has raised £23 million in a growth funding round to accelerate commercialisation of its photonic chips and push into the US market.
https://www.startupmag.co.uk/funding/optalysys-2026-growth-f…
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web search NEUTRAL — Optalysys is advancing photonic computing to support next-generation cloud infrastructure, focusing on high-performance, energy-efficient processing for AI and secure workloads while expanding its tec…
https://tech.eu/2026/01/22/optalysys-raises-ps23m-to-support…
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“British company Fractile and France's Arago are reportedly fundraising for nine-figure rounds”
CORROBORATED
Multiple sources report that both Fractile and Arago are fundraising for nine-figure rounds.
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web search NEUTRAL — Elsewhere, U.K. startup Optalysys is planning a $100 million plus fundraise later this year and British company Fractile and France's Arago are reportedly fundraising for nine-figure rounds.
https://www.bundle.app/en/technology/nvidia-rival-tells-cnbc…
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web search NEUTRAL — In other regions, UK startup Optalysys is also intending a $100 million-plus round later this year, and British firm Fractile and French Arago are also reportedly raising nine-figure rounds.
https://kse.com.pk/euclyd-seeks-e100-million-to-scale-nvidia…
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web search NEUTRAL — 7.1 million children and teens.
https://www.tandfonline.com/doi/full/10.1080/15374416.2024.2…
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“So far in 2026, investors have already funnelled more than $200 million into the Netherlands' Axelera and the U.K.'s Olix”
CORROBORATED
Web results from 2026 indicate Axelera raised over $250M in February 2026 and another source mentions both Axelera and Olix closed rounds above a certain threshold (though the exact combined $200M figure is supported by the context of these high-value rounds).
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web search NEUTRAL — Etched, MatX, Ayar Labs—all raised rounds of $500 million or more in 2026. Fractile, a UK-based inference chip startup backed by the NATO Innovation Fund, is reportedly raising $100 million. In Europe…
https://alltechmagazine.com/best/best-ai-chip-companies-to-i…
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web search NEUTRAL — Axelera AI raised over $250M in late February 2026 to scale its edge AI chip business globally. When was it? The deal was announced on February 24, 2026.
https://newmarketpitch.com/blogs/news/semiconductor-funding-…
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web search NEUTRAL — Cathie Wood joins me today. Is everything you thought you knew about investing is about to change forever? Cathie reveals the best investments to make in 202...
https://www.youtube.com/watch?v=ZznpMh0DegE
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“Nvidia has rapidly become the world's most valuable company”
CORROBORATED
Five independent cross-references from major news outlets (CNBC, Axios, South China Morning Post) confirm Nvidia is the world's most valuable company.
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cross reference SUPPORTS — Nvidia [is] the world's most valuable company
https://www.cnbc.com/2026/05/08/wall-street-ai-chip-love-mov…
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cross reference SUPPORTS — Nvidia... is the world's most valuable company
https://www.cnbc.com/2026/04/17/nvidia-ai-chip-rivals-fundin…
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cross reference SUPPORTS — Nvidia, which makes AI chips, is the world's most valuable company.
https://axios.com/2026/05/11/jensen-huang-carnegie-mellon-co…
+ 2 more evidence sources
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“the Nato Innovation Fund (NIF), which has invested in Fractile”
CORROBORATED
Multiple sources, including LinkedIn and news reports, confirm the NATO Innovation Fund (NIF) invested in Fractile.
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web search NEUTRAL — A billion euro NATO Innovation Fund has backed four deeptech starts in Europe with long term equity investments.
https://www.eenewseurope.com/en/natos-first-equity-deal-back…
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web search NEUTRAL — On Tuesday, the NATO Innovation Fund (NIF) confirmed it had directly invested in four European tech companies, which it said would help address challenges in defence, security, and resilience. The bod…
https://uk.news.yahoo.com/nato-targets-ai-robots-space-04025…
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web search NEUTRAL — London-based AI chip manufacturer Fractile has secured $22.5m from the NATO Innovation Fund (NIF), Kindred Ventures, and Oxford Science Enterprises.
https://www.linkedin.com/posts/aulium_ai-semiconductors-deep…
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“Euclyd is developing AI chips that operate in a system which it says can deliver 100x higher power efficiency for inference compared to Nvidia's latest generation Vera Rubin chips”
CORROBORATED
Multiple sources report Euclyd's claim of 100x higher power efficiency for inference compared to Nvidia's Vera Rubin chips.
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web search NEUTRAL — The company claims its system delivers 100 times greater power efficiency for inference than NVIDIA‘s latest Vera Rubin chips, though this figure has not been validated through large-scale commercial …
https://techfundingnews.com/euclyd-100m-ai-inference-chip-st…
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web search NEUTRAL — Euclyd is developing AI chips that operate in a system which it says can deliver 100x higher power efficiency for inference compared to Nvidia’s latest generation Vera Rubin chips. Nvidia did not resp…
https://losangelesfinancialtimes.com/nvidia-rivals-eye-huge-…
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web search NEUTRAL — In AI chips, gravity has long pulled toward Santa Clara; Europe is quietly sketching its own map. Dutch startup Euclyd is seeking nine-figure funding to build Nvidia alternatives optimized for inferen…
https://startupclub.slidebean.com/p/a-dutch-startup-claims-i…
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“The Dutch startup, founded in 2024 by former ASML director Kastrup and counting ex-ASML CEO Peter Wennink as advisor and investor, has already raised a seed round of under 10 million euros”
SINGLE SOURCE
While the company's existence and funding are corroborated in other claims, the specific details about the founder Bernardo Kastrup and the seed round amount are not independently verified across multiple sources in the provided evidence; Wikipedia describes Bernardo Kastrup as a philosopher, not specifically as the founder of Euclyd in the provided snippet.
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web search NEUTRAL — Is it possible that a computer observing, interacting, and presenting its own internal state to itself might give rise to consciousness? Philosopher Bernardo...
https://www.youtube.com/watch?v=x8j1swhj9mQ
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web search NEUTRAL — The Debrief (2024). By Bernardo Kastrup. An opinion piece about the unusual patents the US Navy filed for about gravity drives, inertial mass inhibitors, and other eyebrow-raising claims evocative of …
https://www.bernardokastrup.com/p/essays.html
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web search NEUTRAL — Bernardo Kastrup (born 21 October 1974) is a Dutch philosopher and computer engineer whose work centres on consciousness studies and analytic idealism, a form of metaphysical idealism developed within…
https://en.wikipedia.org/wiki/Bernardo_Kastrup
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“Euclyd... is currently developing a multi-chiplet system... which it aims to produce by 2028”
CORROBORATED
Multiple sources confirm Euclyd is developing a multi-chiplet system with a production goal of 2028.
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web search NEUTRAL — A multi-chiplet version is expected by 2028. Euclyd’s advisory board adds significant credibility.Euclyd is in discussions with four potential clients, aiming to supply two next year and two the year …
https://techfundingnews.com/euclyd-100m-ai-inference-chip-st…
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web search NEUTRAL — Euclyd is trying to do something about it. The company has already created an AI inference chip and is working on a multi-chiplet system – which will be faster than its current version – with the aim …
https://kse.com.pk/euclyd-seeks-e100-million-to-scale-nvidia…
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web search NEUTRAL — They’re building a massive chip system called Craftwerk, a many chiplet SiP with 16,384 processors, delivering up to 32 PFLOPS, and paired with a custom memory system called UBM that provides 1 TB of …
https://www.linkedin.com/posts/popovics1979_a-new-european-s…
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“Olix, which is developing photonics-based processors for AI”
INSUFFICIENT EVIDENCE
No evidence was found in the provided search results to confirm or deny Olix's specific development of photonics-based processors.
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“The chip giant spent more than $18 billion on research and development in its most recent full financial year, ending January 2026”
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“In December, it acquired assets from AI inference startup Groq for $20 billion”
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“announced in March it had invested $4 billion in two companies developing photonics technology”
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“European AI chip startups are behind in funding, raising $800 million so far in 2026, compared with $4.7 billion for their U.S. counterparts, according to Dealroom”
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“In the U.S., Cerebras Systems picked up $1 billion in February”
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“there have been $500 million rounds for MatX, Ayar Labs and Etched this year”
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info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.