Etched raises $800 million in Jane Street-led round, plans summer shipment
Business
Etched, a young company making AI chips, just scored $800 million in fresh funding with Jane Street leading a round and investors including VentureTech Alliance (which works closely with TSMC).
Founded in 2022, Etched plans to ship its first chips for powering AI models this summer.
Etched has $1B contracts, investor support
Co-founder Robert Wachen shared that Etched already has $1 billion worth of sales contracts lined up, even though the customers are still under wraps.
The company's investor list is stacked, with over $100 million from Jane Street plus support from AI legends like Geoffrey Hinton and Fei-Fei Li.
Etched is aiming to take on NVIDIA by building specialized chips to speed up AI work.