Semiconductor Financing Tests Sovereign Scaleup Ambitions

EUCLYD’s reported €200M-plus raise and FMC partnership now sit alongside EVAS’s nearly $295M Chinese round and SemiDrive’s approximately $148M in 2026 Series C/C++ financing. SemiDrive’s reported 14M-plus shipments and reach across more than 90% of Chinese automakers add commercial validation, while expansion into embodied AI links automotive chips to the physical-AI cycle; valuation, manufacturing scale and ownership risks remain.