TensorX uses open source models on Nvidia GPUs that store no data.
Irish startup TensorX has raised €8 million in a seed round to help Europe advance its autonomous AI infrastructure initiatives.
Founded by Shane Morton, TensorX is raising funds to purchase Nvidia Blackwell GPUs for its EU AI platform, which runs on dedicated hardware in Dublin and Helsinki.
Morton raised the money through his investment vehicle Darius Cubed Venture. He is committing €4m to the latest Nvidia equipment.
“The demand for private AI infrastructure is outstripping the supply across Europe,” Morton said. “We see it directly in businesses in Germany, France, the Netherlands and the Nordics.”
Morton built and sold financial trading software, before acquiring ICT Services, an Irish data center infrastructure provider.
“Our €8 million investment is the first step. There is a lot of construction to come, and the infrastructure partnership we have in Ireland means we can move at the pace this market demands,” he said.
The EU is concerned about regulating US technology companies that use the bloc’s technology and data infrastructure. Over the years, its efforts to regulate US Big Tech firms have fueled tensions between the EU and the US, even drawing threats of further tariffs from President Donald Trump.
Earlier this month, the bloc lost access to the leading AI models Anthropic, Mythos and Fable after a US export control order. An EU spokesperson said the move reinforces why Europe needs to strengthen its technological sovereignty.
EU businesses reportedly share this concern, with data from Accenture suggesting that 62pc of European organizations want AI to dominate, while 75pc plan to shift AI responsibility to local providers by 2030, according to Gartner.
Meanwhile, the possibility of the US government forcing US technology companies to share EU data adds to the bloc’s growing problems.
AI orientation is important in the AI stack, but it presents data security concerns. For financial, healthcare and law firms, sensitive data may be stored or reused by third-party providers against EU laws.
TensorX tries to address this by using open source models on dedicated Nvidia GPUs that don’t store data. “Nothing is stored, logged or reused, giving businesses full control over where their data lives and how it’s used,” the Dublin-headquartered company said.
“European companies don’t want to make a political statement about their AI stack. They want to be practical,” said Tim Grant, chairman of TensorX. “Their information should stay in Europe, in an infrastructure they can trust, under the laws they need to obey.
The company is also in advanced talks to secure additional funding to expand its European footprint, with capacity planned for Ireland, the UK, Germany, France and the Nordics. It has plans to spend up to €100m on Blackwell GPUs.
TensorX is part of Nvidia’s Inception program – a free initiative that guides the implementation of AI through the chipmaker’s platform and ecosystem. It has teamed up with Nvidia’s long-time partner Dell for GPU hardware.
According to TensorX, the company has already generated revenue from all managed large enterprises, partnership channels that want to engineer a route to a GPU computer, and SMEs that build their own AI products on top of the company’s platform.
The company employs 14 people, Grant told the Business Post. It plans to hire six new employees, most, if not all, based in Dublin.
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