AI chip startup Etched defies skeptics, hits $10.3B valuation from big-name investors
Etched, founded by three Harvard dropouts, has created new chips and memory components that speed up inference on any AI model -- no GPUs required, it says.
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Etched is an AI chip startup founded by three Harvard dropouts that has raised $300 million in Series C funding at a $10.3 billion valuation, doubling its valuation in seven months. The company designed specialized chips and memory technology to speed up AI inference, the computing process that happens after a user submits a prompt. Etched faced significant skepticism about its approach of building chips specifically for transformer-based AI models, but has since demonstrated that its systems can run various AI architectures and has booked $1 billion in orders. The funding round was led by major investors including Sequoia and Andreessen Horowitz, along with other backers who tested the hardware directly.
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