San Jose AI chip startup Etched reaches $10.3B valuation
PUBLISHED Jul 24, 2026, 11:52 AM ET
Read, Watch or Listen
Etched, a San Jose, California-based artificial intelligence chip startup, has raised $300 million in a Series C round led by Sequoia Capital, valuing the company at $10.3 billion. The raise, completed roughly seven months after its previous round, doubles Etched’s valuation and marks the largest Series C ever led by Sequoia. New investors include SK Hynix and Jane Street, joining existing backers Andreessen Horowitz, Peter Thiel, Jump Trading, and Diffusion. Founded less than four years ago by three Harvard dropout co-founders, Etched has now secured more than $1.1 billion to scale its specialized AI inference processors aimed at competing with Nvidia.
By Lauren Mitchell | JQJO News
Timeline of Events
- 2023: Founders secure initial Sequoia backing
- Past four years: Etched raises over $1.1 billion
- Seven months ago: Previous funding round completed
- 2025: AI inference chips forecast $17.73 billion
- 2026: Sector projected to reach $20.51 billion
- Today: Etched announces $300 million Series C
- Today: Company valuation reaches $10.3 billion
- 2030: AI inference chips expected $36.97 billion
News Intelligence
- Etched's growth could impact your tech investments. Its specialized AI chips are set to compete with Nvidia, a market leader. If you're invested in AI tech, keep an eye on Etched's progress.
Comments