Samsung-Backed Chipmaker Axelera AI Looks to Raise €150 Million

Axelera AI, a startup chipmaker backed by Samsung Electronics Co. and the European Union, is in talks to raise more than €150 million ($175 million) in financing as the continent aims to strengthen its high-performance computing capacity.

The Dutch company is speaking to existing and new investors, with plans to close the funding round by the year’s end, according to people familiar with the matter. They asked not to be identified citing private plans, which they said could change. It’s not clear what valuation the new funding would yield.

A spokesperson confirmed that the company is raising funds ...