Etched Raises $800M With Backing From Jane Street, TSMC-Linked VC

According to Bloomberg, AI chip startup Etched raised US$800 million on June 30, with investment from Jane Street and VentureTech Alliance, a semiconductor-focused firm. Jane Street led an earlier unannounced round and has invested more than US$100 million in total. Founded in 2022, Etched plans to ship chips to customers this summer and has signed US$1 billion in sales contracts as it competes with Nvidia. The company previously closed a US$500 million round in December at a US$5 billion valuation.
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