AI chip startup Etched raises $300 million in Series C funding, valuation reaches $10.3 billion

Odaily reported that AI chip startup Etched has announced the completion of a $300 million Series C funding round, bringing the company's valuation to $10.3 billion. The round was led by Sequoia Capital, with participation from Andreessen Horowitz (a16z), SK Hynix, Jane Street, and Diffusion Capital.

Founded in 2022 by three Harvard dropouts, Etched was valued at approximately $5 billion during a $500 million funding round in December 2025, meaning its valuation has doubled in just about seven months. Etched stated that the company focuses on building dedicated chip systems for AI model inference. It recently completed mass production of its self-developed chips and has begun customer testing of its first full systems, while also securing approximately $1 billion in orders. (TechCrunch)