AI Chip Startup Etched Doubles Valuation to $10.3B

AI chip startup Etched has announced that it has raised $300 million in a Series C funding round, bringing its valuation to $10.3 billion, more than double its previous valuation of $5 billion in December. The round was led by Sequoia Capital, with participation from notable investors such as SK Hynix, Andreessen Horowitz, Jane Street, and Diffusion Capital. Etched specializes in chips optimized for artificial intelligence inference, aiming to enhance the efficiency of the inference process. The company's chips utilize a low-voltage inference technology that allows them to operate at lower voltages, thereby generating less heat and enabling higher clock frequencies. Additionally, Etched has developed a Cluster Scale Memory technology that allows multiple chips to share memory, further improving processing efficiency. The company plans to begin shipping its first systems this summer, marking a significant step forward in its development within the AI chip market.