Etched raises $700 million at $21 billion valuation led by Jane Street

Funding ● Confirmed 95% confidence first seen 18 August 2026, 17:21

Etched, an AI chip startup specializing in inference accelerators, raised $700 million in funding led by trading firm Jane Street, doubling its valuation from $10.3 billion to $21 billion in one month. Jane Street tested Etched's hardware and became the company's first production customer as part of the round. The funding validates Etched's custom chip architecture designed to accelerate AI inference while reducing power consumption and costs.