Etched raises $700M led by Jane Street, doubling to $21B and it still only makes one kind of chip
Tech Funding News Sofia Chesnokova ● Covered by 4 sources
Etched, a startup making inference chips for running trained AI models, raised $700 million at a $21 billion valuation in a round led by trading firm Jane Street, which also became its first production customer. The funding round valued the company at double its July valuation of $10.3 billion, with over $1 billion in customer orders already secured. Etched's competitive position strengthened after Groq was acquired by Nvidia and Cerebras went public, leaving few independent inference chip makers still operating.
Why it matters
Etched, a US-based startup that makes processors built to run trained AI models, has raised a $700 million…