19 August 2026
Etched raises $700M for AI chip manufacturing at $21B valuation
First reported
TechCrunch ran this on , a day before the other 2 sources picked it up.
- Etched, an AI chip startup, closed a $700 million funding round led by Jane Street capital.
- The round valued Etched at $21 billion, placing it among the most expensive private AI hardware companies.
- Jane Street received the first shipped rack of Etched's chips as part of the deal.
Where they differ
The NeuronPete Huang & Grant Harvey
AI chip startup Etched raised $700 million in a funding round that valued the company at $21 billion, with Jane Street leading the round and receiving the first shipped rack.
The Rundown AIRowan Cheung
U.S. AI chip startup Etched raised $700M in a funding round led by trading firm Jane Street, doubling its valuation to $21B in under a month.
Reported by TechCrunch