Space startups raise big money in funding blitz as Europe aims to challenge U. S. dominance
Space startups raise big money in funding blitz as Europe aims to challenge U. S. dominance. European space startups are attracting fresh funding as the region seeks to build its capabilities and narrow a its gap with the U. S.
What happened
Skip to content Sir Kevin Sinfield proud to bring Rugby League community together with ultra-marathon fundraiser Monday 14 September 2026 20:14, UK Please use Chrome browser for a more accessible video player Sir Kevin Sinfield hopes his his seventh and final challenge of running seven ultra-marathons in consecutive days, to raise money for motor neurone disease (MND) charities will also help bring the Rugby Lague community together. Skip NavigationMarketsBusinessInvestingTechPolitics & PolicyVideoWatchlistInvesting ClubPROLivestreamMenuKey PointsDutch startup Euclyd, which is a building a chip for AI inference that seeks to rival Nvidia, has raised $230 million funding round.
" Google, AWS and Meta are all also developing their own AI chips. watch nowVIDEO6:0906:09Nvidia rival looks to raise €100 million in scaling boostSquawk Box Europe"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," said Kastrup. The round was co-led by Samsung, Somerset Capital Partners, the Scaleup Europe Fund and Innovation Industries. In this articleNVDAARMFollow your favorite stocksCREATE FREE ACCOUNTSamsung has backed a Dutch AI chipmaker in a $231 million funding round, amid a boom in investment in alternatives to Nvidia's graphic processing units.
Euclyd CEO Bernardo Kastrup told CNBC exclusively that the company's 200-million-euro Series A drew backing from Somerset Capital Partners, the Scaleup Europe Fund managed by EQT and Innovation Industries, which all co-led the round alongside Samsung. The company has developed a near monopoly over the market for the highest-end chips, but some hyperscalers, alongside startups, are looking to develop their own processors for AI workloads.
The wider picture
But the company said its silicon systems for foundational models will reduce the energy needs and costs of AI data center infrastructure, which is seeing a funding boom. "Samsung can help us in more ways than money," said Kastrup. "Euclyd aims to begin rolling out its physical chip systems in 2028, with thousands of enterprise customers being served by 2030, Kastrup told CNBC. A number of tech giants are developing their own AI chips. The startup, founded in 2024, is designing an AI chip system, with different architecture to GPUs, for inference, including the processor and memory architecture.
Nvidia became the world's most valuable company after its GPUs, originally designed for gaming, were repurposed for training and using AI models, known as inference. OpenAI announced in August that its first AI chip, the Jalapeño, had "industry-leading speed and efficiency. Euclyd's systems have yet to be proven at scale in commercial deployments.
What has been reported
The company is targeting two revenue streams: selling hardware and physical rack systems to enterprise customers who want secure self-hosted AI inference, and selling its intellectual property to companies that want to develop their own chips based on pre-existing tech. "They are 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. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
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The report has been compiled by The Daily Waves using information reported across cnbc.com, skysports.com. Details are presented according to the information available at the time of publication and may change as authorities, organisers or other relevant parties provide updates.