This study investigates the high-pressure behavior of the antiferromagnetic semiconductor EuTe₂, observing superconductivity above ~5 GPa and a structural transition at ~16 GPa. Magnetoresistance measurements reveal strong coupling between Eu²⁺ moments and Te 5p conduction electrons in the low-pressure phase, leading to an upper critical field exceeding the Pauli limit. The high-pressure phase is nonmagnetic, and the upper critical field drops below the Pauli limit. The findings suggest that the enhanced upper critical field in the low-pressure phase is due to exchange field compensation, while superconductivity in both phases is consistent with BCS theory.