AI chip start-up Etched raises $700m at $21bn valuation

AI chip start-up Etched has raised $700 million in a new funding round, led by US trading firm Jane Street, which has boosted its valuation to an impressive $21 billion. This significant increase in valuation comes just a month after the company emerged from stealth, showcasing the growing confidence in the emerging AI hardware market.

Etched's innovative approach focuses on building inference clusters that make AI inference faster, cheaper, and more efficient by co-designing chips, racks, software, and manufacturing methods. The company's unique technologies, such as low voltage inference and cluster scale memory, allow for higher compute density and a massive shared memory pool, respectively.

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