Mentioned:
A hardware startup has big ambitions for changing the future of inference. And some of the most important investors from Wall Street and Silicon Valley are backing them.
What’s happening:
- San Jose, California based chip startup Etched has successfully raised $700M USD in a new equity financing round which was led by Jane Street
By the numbers:
- The new funding round gives Etched a valuation of roughly $21B USD
Why it matters:
- Etched is building a new type of application specific hardware that is purpose built for artificial intelligence inference
Going deeper:
- Etched has publicly stated they have delivered their first rack to Jane Street to run their artificial intelligence workloads
- Kleiner Perkins, Sequoia, a16z, Tiger Global, Bain Capital Ventures and Blackstone also notably participated in Etched’s new funding round
The intrigue:
- Figma (NYSE: FIG) founder Dylan Field, billionaire hedge fund manager Stanley Druckenmiller and Peter Thiel were all early investors in Etched
