Inside Etched, The $21 Billion Chip Startup Racing Nvidia

Etched raised $700 million at a $21 billion valuation on 18 August 2026, led by Jane Street, which is also the only customer it has named. The company has delivered one rack and published a single performance figure. Its founders bet in 2022 that transformer chips would beat GPUs, and have since widened the bet.

Raccontata dagadgetsnow.indiatimes.com