Samsung jointly led a $230 million funding round for Dutch chip startup Euclyd, with the same round also attended by institutions such as Somerset Capital Partners and the Scaleup Europe Fund. Euclyd’s positioning is very straightforward: it aims to provide computing power alternatives beyond NVIDIA GPUs, betting that after AI demand explodes, the market will not be able to tolerate a single dominant player forever. Even more intriguing is Samsung’s role—it's itself a top upstream giant in the global semiconductor industry. On one hand, it does business within the existing AI chip supply chain; on the other, it puts real money behind a challenger to NVIDIA. Its intent is unmistakably two-pronged. For holders of $NVDAB , this kind of news becomes a long-term valuation variable: when cloud providers and hardware giants are all betting on “de-NVIDIA” alternative routes, the width of the moat must be reassessed. As for the GPU replacement track, the next two years are worth keeping a close watch. How many more years do you think NVIDIA’s monopoly can hold?