Euclyd raises $230M+ to develop chips for AI agents

Dutch chipmaker Euclyd BV today announced that it has raised more than €200 million, or $230 million, from a group of prominent investors.

Samsung Electronics Co., Somerset Capital Partners and the Scaleup Europe Fund led the Series A deal. They were joined by several other institutional backers, including imec.xpand, a fund associated with the Imec nanotechnology research center. Peter Wennink, former chief executive of ASML Holdings NV, joined Euclyd’s board as part of the raise.

Euclyd is headquartered in High Tech Campus Eindhoven, a research hub located a few miles from ASML’s head office. The company is developing an artificial intelligence chip called craftwerk. Euclyd will ship the chip as part of a system called CWS that is expected to power AI clusters with more than an exaflop of performance.

The company says craftwerk is designed to run AI agents. That suggests the chip will include circuits optimized for inference rather than training. Additionally, it’s likely that either craftwerk or CWS will include central processing unit cores. AI agents require not only inference accelerators but also CPUs that can run their tools.

According to Euclyd, craftwerk’s computing module will be an application-specific integrated circuit, or ASIC. The chip will also feature an “innovative memory architecture.” Euclyd elaborated that it plans to pursue “processor-memory co-design,” which indicates that its RAM architecture will be specifically optimized to work with its ASIC.