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Etched lands Jane Street as first customer in $700M funding round
The startup says it already has more than $1 billion in product deals and is pursuing lower-voltage AI inference.
Etched, a San Jose startup founded by three Harvard dropouts, says Jane Street is its first customer for an AI rack, as the company announced that the trading firm is leading a $700 million funding round.
The round values Etched at $21 billion, according to Yahoo Finance, which notes that this is double the startup's estimated valuation from one month earlier and highlights interest from investors including Sequoia Capital, Andreessen Horowitz, and Blackstone.
Etched is focused on making AI inference more efficient than Nvidia GPUs. The company points to two technologies, low voltage inference, designed to use less electricity while sustaining high speeds, and cluster scale memory, which links chips to a shared pool of memory to access information faster.
Etched also says it has secured deals for its products totaling more than $1 billion, and describes its “frontier inference clusters” as already producing results, though the provided text ends mid-sentence.