AI
AI chip startup Etched defies skeptics, hits $10.3B valuation from big
AI chip startup Etched has raised a $300 million Series C funding round led by Sequoia, valuing the company at $10.3 billion.
Key takeaways
- Etched closed a $300 million Series C funding round at a $10.3 billion valuation.
- The funding round represents the highest valuation ever for a Sequoia-led Series C.
- Etched's systems can run any AI model, including Mixture of Experts and non-transformer designs like Mamba.
- The startup has already booked $1 billion worth of orders.
- Etched's prefill chip operates dramatically faster by running at a much lower voltage.
AI chip startup Etched has raised a $300 million Series C funding round led by Sequoia, valuing the company at $10.3 billion. This doubles its previous $5 billion valuation from December. Founded in 2022 by three Harvard dropouts, Etched designs custom hardware systems for AI inference. The company has developed a low-voltage prefill chip and a new cluster scale memory technology to speed up computing and lower costs. Etched has already booked $1 billion in orders, and its systems are being tested by clients.
In their words
“Inference is built in two stages, prefill and decode.”
“I think we still have to be humbled by what it will take to actually get to scale.”
By the numbers
- $300M
- Series C funding round raised by Etched
- $10.3B
- Valuation of Etched following Series C round
- $5B
- Previous valuation of Etched in December
- $1B
- Value of orders booked by Etched
- 400
- Number of people working at Etched
How it unfolded
- Three Harvard dropouts found Etched
- Etched raises $500 million at $5 billion valuation
- Etched announces chip manufacturing and $1 billion in orders
- Etched closes $300 million Series C at $10.3 billion valuation
Turn stories like this into views
Ravenclip finds the AI news, makes the video, and posts it before attention moves on.
#United States
#Robert Wachen
#Sequoia
#Andreessen Horowitz
#SK Hynix
#Jane Street
#Diffusion Capital
Common questions
- What happened with Etched?
- Etched closed a $300 million Series C funding round at a $10.3 billion valuation.
- Where can I read the original report?
- Read the full report at techcrunch.
