Openchip: Catalan RISC-V Chipmaker Gets €115M Government Boost 2026

Openchip & Software Technologies, a Barcelona-based RISC-V chip designer, has secured a €115.77 million investment from the Spanish government, marking the largest single public capital injection into a Spanish tech company in the semiconductor sector to date. The move, approved by the Council of Ministers on June 29, underscores Spain's push to build a domestic chip industry.

What Is Openchip and Why Does It Matter?

Founded in 2021, Openchip focuses on designing processors based on the open-standard RISC-V architecture, which is seen as a potential alternative to proprietary instruction sets like ARM and x86. The company aims to develop high-performance, energy-efficient chips for applications ranging from edge computing to data centers.

Openchip's rise is part of a broader European effort to reduce dependence on Asian and American chip suppliers. The EU Chips Act has set ambitious targets to double Europe's share of global semiconductor production by 2030, and Spain has positioned itself as a key player through initiatives like the PERTE Chip program.

The Investment Breakdown: Who Gets What?

The €115.77 million comes from the Sociedad Española para la Transformación Tecnológica (SETT), a digital arm of the state industrial holding SEPI, under the Next Tech facility of the Recovery Plan. This injection follows a €35 million bridge loan converted into equity by the Catalan government on June 23, giving the Generalitat a 5% stake and implying a valuation of around €700 million for Openchip.

With the SETT investment, the Spanish government could hold up to 16.54% of the company, bringing direct public control (state and regional) above 20%. Both administrations will have seats on the board, and the Catalan government has secured a veto right over any relocation of the headquarters outside Catalonia.

In total, Openchip has now received nearly €262 million in public support, including €111 million from the PERTE Chip program. This substantial backing highlights the strategic importance of semiconductor sovereignty for Spain and the EU.

Why RISC-V and Why Now?

RISC-V is an open-source instruction set architecture that allows companies to design custom processors without paying licensing fees. This openness fosters innovation and could lower barriers to entry in the chip market, challenging established players.

Openchip's focus on RISC-V aligns with Europe's goals of technological autonomy. By investing heavily in a domestic champion, Spain hopes to create jobs, attract talent, and build a resilient supply chain for critical technologies. The longer history behind the story is traced in Openchip: Catalan RISC-V Chipmaker Gets €115M Government Boost.

Key Takeaways from the Openchip Deal

• Largest public investment in a Spanish semiconductor company to date.
• Public control exceeds 20%, with board representation for both state and regional governments.
• Valuation around €700 million, based on the Catalan government's equity conversion.
• Total public support nears €262 million, including PERTE Chip funds.
• Strategic focus on RISC-V, an open-source chip architecture with growing global interest.

What This Means for Spain's Tech Ecosystem

The investment is a strong signal that Spain is serious about building a semiconductor industry. It could attract further private capital and partnerships, as well as encourage other startups in the sector. The background to this story is set out in China's RISC-V Strategy to Bypass US Sanctions Gets US Help. A related thread runs through China's Big Tech Bets Big on Domestic AI Chipmakers. Earlier coverage in Alibaba's RISC-V Chips Hit 6 Billion Units in AI Push shows how the argument developed.

However, critics may question the wisdom of such heavy public involvement in a single company. The success of Openchip will depend on its ability to commercialize its technology and compete globally. The company will need to deliver on its promises to justify the confidence placed in it. A closer look at the same subject appears in Superstruct's $115M Loss: Festival Giant Behind FIB and Arenal Sound. Anyone following the wider picture can start with Business: latest articles. The same theme surfaces in Intel's $5.4B Ireland Chip Investment: What It Means for Europe, which takes a different angle.

For now, the deal positions Openchip as a flagship project for Spain's digital transformation. It also strengthens Barcelona's role as a tech hub, particularly in deep tech and hardware design. Context on how this played out before sits in AMD Set to Overtake Intel in Revenue for the First Time. A companion piece, ASML: The Single Machine Behind Every Advanced Chip, approaches the same subject from another angle.

Comparison of Public Funding for Openchip

FAQ