Etched has raised $300M at a $10.3B valuation in what it says is Sequoia’s biggest Series C yet, capping a stunning turnaround for the AI chip startup taking on Nvidia.

Latest round saw participation from SK Hynix, Andreessen Horowitz, Jane Street, and Diffusion

Nvidia rival Etched has raised $300M at a $10.3bn valuation, doubling its worth in seven months and pulling in memory giant SK Hynix as a backer.