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.

Prepared by Christopher Adams and reviewed by editorial team.