fullscreen

eFinder

eFinder

Home › Article

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
headphones Listen to the eFinder podcast briefing
Generate a natural audio summary of this story
Daily briefing

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

European chip startups developing alternative technology to Nvidia's graphics processing units (GPUs) are eyeing big funding rounds as they look to scale amid the AI boom.

Claims checked 16
Techniques found 0
Topics 0

Coverage spectrum

Coverage gap: Low Left coverage
Left0%
Center75%
Right25%

4 sources compared across this story cluster. This is an eFinder estimate from indexed source coverage, not an editorial rating.

What happened

European chip startups developing alternative technology to Nvidia's graphics processing units (GPUs) are eyeing big funding rounds as they look to scale amid the AI boom.

Why it matters

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), its founder Bernardo Kastrup, told CNBC in an exclusive interview.

Common ground

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.

Perspective signals

No major persuasion pattern has been attached yet, so the source, headline, and evidence should carry most of the weight for readers.

open_in_new Read the original article: https://www.cnbc.com/2026/04/17/nvidia-rivals-chip-market-funding-ai-asml-euclyd…

fact_checkClaims Checked

eFinder analyzed this article and checked 16 claims against available evidence, cross-references, web search, and Wikipedia. Here is what the fact-checking layer found.

check_circle Corroborated 8
schedule Pending 6
help Insufficient Evidence 1
info Single Source 1
check_circle
Claim 1: “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.
travel_explore
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…
travel_explore
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…
travel_explore
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…
schedule
Claim 2: “In the U.S., Cerebras Systems picked up $1 billion in February”
PENDING
This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.
check_circle
Claim 3: “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.
travel_explore
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…
travel_explore
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…
travel_explore
web search NEUTRAL — 7.1 million children and teens.
https://www.tandfonline.com/doi/full/10.1080/15374416.2024.2…
check_circle
Claim 4: “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.
travel_explore
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…
travel_explore
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…
travel_explore
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…
help
Claim 5: “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.
check_circle
Claim 6: “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.
travel_explore
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…
travel_explore
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-…
travel_explore
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…
schedule
Claim 7: “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”
PENDING
This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.
schedule
Claim 8: “In December, it acquired assets from AI inference startup Groq for $20 billion”
PENDING
This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.
schedule
Claim 9: “there have been $500 million rounds for MatX, Ayar Labs and Etched this year”
PENDING
This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.
check_circle
Claim 10: “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.
compare_arrows
cross reference SUPPORTS — Nvidia [is] the world's most valuable company
https://www.cnbc.com/2026/05/08/wall-street-ai-chip-love-mov…
compare_arrows
cross reference SUPPORTS — Nvidia... is the world's most valuable company
https://www.cnbc.com/2026/04/17/nvidia-ai-chip-rivals-fundin…
compare_arrows
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
check_circle
Claim 11: “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.
travel_explore
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…
travel_explore
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…
travel_explore
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…
schedule
Claim 12: “announced in March it had invested $4 billion in two companies developing photonics technology”
PENDING
This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.
check_circle
Claim 13: “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.
travel_explore
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…
travel_explore
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…
travel_explore
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…
check_circle
Claim 14: “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).
travel_explore
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…
travel_explore
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-…
travel_explore
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
schedule
Claim 15: “The chip giant spent more than $18 billion on research and development in its most recent full financial year, ending January 2026”
PENDING
This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.
info
Claim 16: “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.
travel_explore
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
travel_explore
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
travel_explore
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
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.