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Axelera AI, a Dutch startup founded by Fabrizio Del Maffeo, has announced a $250 million funding round, marking the largest investment ever in a European semiconductor company for AI. The funding, led by Innovation Industries and supported by investors such as BlackRock and CDP Venture Capital, aims to enhance AI chip technology to address energy and cooling constraints. Founded in 2021, Axelera has raised over $450 million in total and serves 500 global clients in sectors like defense and robotics, with ambitions for a future Nasdaq listing.