Etched Doubles to $21B in $700M Round Led by Jane Street
TL;DR
- Etched raised $700M at a $21B valuation led by Jane Street, roughly doubling the $10.3B mark set only in late July.
- The startup employs roughly 400 people, drawing engineers from Nvidia, Broadcom, Google's TPU team, and SK Hynix.
- Jane Street is both lead investor and an early server-rack customer for Etched's transformer-specialized Sohu ASIC.
AI inference-chip startup Etched has raised $700 million led by Jane Street at a $21 billion valuation, roughly doubling the $10.3 billion mark it set with a $300 million Series C only in late July, per the Wall Street Journal.
Alongside the round, Seeking Alpha's summary of the WSJ report says the company "has recruited talent from the likes of Nvidia and reached a valuation of $21B." Etched now employs roughly 400 people, drawing engineers from Nvidia, Broadcom, Google's TPU team, and SK Hynix. Jane Street, described as "a key early customer and lead investor," buys server racks built around Etched's transformer-specialized Sohu ASIC and has now anchored two consecutive rounds.
The move sits inside a broader inference-silicon shuffle we have been tracking. In the same window, Groq closed at $3.5 billion, roughly half its prior mark, after a supply deal with Nvidia.
Etched was founded in 2022 by Harvard dropouts Gavin Uberti, Chris Zhu, and Robert Wachen, and it has said it holds more than $1 billion in signed customer contracts. Neither the WSJ report nor the company has named a customer beyond Jane Street.
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Originally reported by wsj.com
Read the original article →Original headline: Inference Chip Startup Etched Raises $700M Led by Jane Street at $21B, Doubling Valuation in Weeks