Etched secures $300 million led by Sequoia Capital at $10.3B valuation
Business
Etched, a fast-growing AI chip startup, just scored $300 million in fresh funding led by Sequoia Capital, pushing its value to a massive $10.3 billion.
Other big names like Andreessen Horowitz and SK Hynix also joined in, making this the highest-valued Series C round ever for Sequoia.
Etched to scale AI chip production
The company plans to use the cash to ramp up production and get its AI chips into more hands as demand surges.
With 400 employees and a recently opened 80,000-square-foot facility near San Jose, Etched is aiming straight at NVIDIA's turf.
The company says it is seeing significant demand as customers shift from testing their tech to full-on deployments, and this new funding should help them keep up the pace.