AI chip startup Etched doubles valuation to $10 bn in 7 months

AI chip startup Etched raised $300 million in a Series C funding round, doubling its valuation to $10.3 billion in about seven months. The round was led by Sequoia Capital, with participation from Andreessen Horowitz, Jane Street, Diffusion and SK Hynix. The company develops chips designed specifically for AI inference (running AI models), aiming to compete with Nvidia's GPUs.