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Etched raises $700 million at a $21 billion valuation after a rapid valuation increase Funding
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TLDRocket
6 October 2026
Google’s EmbeddingGemma 2 did the most to shift what “AI” means this week: not a flashy chat window, but the index and retrieval underneath it. The open Apache 2.0 model moves beyond text into a shared multimodal embedding space for images, audio, and video, with 740 million parameters and a design target of running on a smartphone. Google says on a Pixel 11 Pro it can sit around 567MB of active RAM, and developers can shrink embedding vectors down to 128 numbers (or 512/256/128) without retraining—crucial when your vector database is bigger than the model you’re hoping it will power.
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