Axelera AI targets IPO within three to five years
The next step is about commercial execution: turning customers’ initial deployments into repeat orders.
Published on October 4, 2026
Fabrizio del Maffeo, © Axelera AI
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The Eindhoven-based AI chip company wants to become a global player. CEO Fabrizio Del Maffeo believes an IPO in North America could be achievable in three years. Expansion in Japan is intended to contribute to that growth.
Axelera AI has its sights set on the stock market. In an interview with Japan’s Gesher Times, co-founder and CEO Fabrizio Del Maffeo outlines his goal of an IPO in North America within three to five years. He believes three years could be possible. That sets an ambitious timeline for the company, founded in Eindhoven in 2021. He does not specify a listing date or stock exchange.
From growth capital to commercial growth
Axelera now has a solid financial foundation to support its international ambitions. In February, the company raised more than $250 million in a funding round led by Innovation Industries. Funds and accounts managed by BlackRock and SiteGround Capital also participated. Since its founding, Axelera has attracted more than $450 million through equity, grants and debt.
The money is being used to scale production, expand the partner network and further develop software for customers. In September, Axelera reported that more than 600 customers worldwide were deploying its products. With the introduction of its new Europa platform and systems from companies including Dell and Supermicro, it also aims to serve more demanding enterprise applications.
The next step towards an IPO is therefore about commercial execution: turning customers’ initial deployments into larger, repeat orders. For a chip company with ambitions like these, what ultimately matters is how convincingly it can turn its technology into a business capable of sustained growth.
Japan as a growth market
Japan plays an important role in that strategy. Del Maffeo is targeting $100 million in revenue there within five years. The country has strong robotics and factory automation industries, precisely the applications Axelera focuses on. Through a partnership with electronics distributor Marubun, the company aims to expand its access to the Japanese market.
Marubun provides more than sales channels. The partner also supports customers with the technical implementation of Axelera’s products. That should make the transition from interest to actual use easier.
A European alternative with global ambitions
The promise to customers is simple: run AI applications at lower cost and with less energy consumption. Axelera develops chips that run trained AI models, for example in robots, cameras and industrial systems. The company positions itself as an alternative to established suppliers such as Nvidia.
Del Maffeo is already looking beyond the IPO. He sees the potential for Axelera to grow into a company with a market capitalisation of $100 billion to $200 billion within ten years.
That ambition makes the next three years pivotal. International expansion, new products and investors give Axelera room to grow. The challenge now is to make the most of that opportunity and build a company that can also earn investors’ confidence on the stock market.
Sources:
- Gesher Times — Interview with CEO Fabrizio Del Maffeo on IPO ambitions and growth in Japan
- Axelera AI — Funding round of more than $250 million
- Axelera AI — Europa platform launch, international customers and partnerships with Dell and Supermicro
- Marubun — Announcement of its partnership with Axelera AI