Etched raises $700M led by Jane Street, doubling to $21B and it still only makes one kind of chip
Tech Funding News 1 week ago 22 ● 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.