Etched is reportedly seeking funding at a $20 billion valuation, highlighting surging investor demand for AI inference chip startups.
Nvidia (NASDAQ:NVDA) rival AI chip startup Etched is reportedly in talks to raise funds at roughly a $20 billion valuation, quadrupling its prior mark.
Existing backer Jane Street is spearheading the new financing, The Wall Street Journal reported on Friday, citing sources.
Separately, Etched is raising a round led by Sequoia Capital at a $10 billion valuation.
Neither deal has closed, and terms may still shift.
Etched did not immediately respond to Benzinga‘s request for comment.
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Etched nearly ran out of cash in 2023 and has since raised $800 million at a $5 billion valuation.
