AI Chip Startup Etched Doubles Valuation to $21 Billion in Under a Month
Jane Street led the round after testing Etched’s hardware, as investors backed its full AI systems and faster inference technology.
- On Tuesday, San Jose, California-based Etched announced it raised $700 million at a $21 billion valuation, led by Jane Street, which tested and deployed the startup's Artificial Intelligence hardware.
- Investors more than doubled the company's valuation in 26 days, jumping from $10.3 billion in July to $21 billion, as demand for specialized Artificial Intelligence inference hardware surges.
- Co-Founder and COO Robert Wachen told TechCrunch that the startup designed two components from scratch to speed up inference: a prefill chip operating at low voltage and a decode process using cluster-scale memory.
- Jane Street received its first rack last month, marking the first customer delivery, while Etched has secured more than $1 billion in contracts across public and private AI companies.
- European challengers are chasing this market, with London-based Olix recently tripling to $3.3 billion, as Etched uses the new funding to scale factories and supply chains toward gigawatt capacity.
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Etched valuation more than doubles to $21 billion in a month
Etched announced Tuesday that it had raised another $700 million at a $21 billion valuation in a funding round led by Jane Street. The round also included Kleiner Perkins, Sequoia, Andreessen Horowitz and Tiger Global, among others. According to TechCrunch, the company was valued at just $5 billion in December. It raised $300 million in a Series C round at a $10.3 billion valuation in July. The latest funding round more than doubled its valuatio…
(Seoul = Yonhap News) Reporter Seol Won-tae = The valuation of Etched, a startup developing chips specialized in artificial intelligence (AI) inference, has doubled in less than a month...
$21 billion AI chip startup Etched takes on Nvidia, poaches its engineers and lands Jane Street - Tech Startups
Etched is starting to look like something Nvidia has rarely faced during the AI boom: a young chip startup with billions in backing, veteran Nvidia engineers on its payroll, more than $1 billion in orders, and a major Wall Street […] The post $21 billion AI chip startup Etched takes on Nvidia, poaches its engineers and lands Jane Street first appeared on Tech Startups.
Etched raises $700M at a $21B valuation led by Jane Street
Etched has raised $700mn at a $21bn valuation in a round led by Jane Street, doubling the $10.3bn it was worth on 23 July. It has also completed its first customer delivery, a rack shipped to Jane Street. Etched has raised $700mn at a $21bn valuation, led by Jane Street, and has shipped its first […] This story continues at The Next Web
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