Etched valuation doubles to $21 billion, Jane Street leads investment and orders

AI chip startup Etched has raised $700 million at a valuation of $21 billion, led by Jane Street. Less than a month ago, Etched completed a $300 million financing at a valuation of $10.3 billion. Jane Street has become the first customer to purchase a complete machine rack equipped with Etched AI acceleration chips. The company has accumulated over $1 billion in orders and has begun delivery. Etched built its own server component factory in Taiwan, China, China. After the first batch of test chips were delivered from TSMC, it ran through AI reasoning workload in 44 days.