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The Economic Times
The Economic Times

AI chip startup Etched doubles valuation to $21 billion in under a month

Etched Jane Street Kleiner Perkins Andreessen Horowitz Sequoia Tiger Global Michael Ashley Schulman California Nvidia San Jose

Jane Street-backed Etched said on Tuesday ​its valuation more than doubled ​in less than a month to $21 billion, as investors ​bet on growing demand for specialized chips used to run artificial intelligence models.

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.

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