AI chip startup Etched doubles valuation to $21 billion in under a month
The San Jose, California-based company raised $700 million, with trading firm Jane Street continuing its backing by leading the round, joined by Kleiner Perkins, Sequoia, Andreessen Horowitz and Tiger Global, among others.
Etched, a San Jose, California-based AI chip startup, has raised $700 million in funding. The investment round was led by Jane Street, with participation from Kleiner Perkins, Sequoia, Andreessen Horowitz, and Tiger Global, among others. This new funding more than doubles Etched's valuation to $21 billion.
Etched aims to design chips optimized for specific artificial intelligence models. The company has pivoted to making inference accelerators that support a variety of model architectures. According to SiliconANGLE, Etched's first prototype chip was produced by Taiwan Semiconductor Manufacturing Co. earlier this year.
The startup has also built a two-megawatt AI cluster in its San Jose headquarters, which prospective customers use to test its chips. Jane Street, the lead investor, has installed an Etched-powered rack in its data center and become Etched's first customer.
Brief written by urgent.news from Economic Times Tech, SiliconANGLE — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
