Nvidia rival Etched raises $800M with backing from Jane Street and a TSMC-linked fund
TL;DR
AI chip startup Etched has raised $800M backed by Jane Street and a TSMC-linked fund, with one billion dollars in sales contracts and summer shipments planned.
AI chip startup Etched has raised $800 million and revealed that its backers include trading firm Jane Street and VentureTech Alliance, a venture firm with a strategic partnership with TSMC. The company, which designs chips specifically for running AI models rather than training them, says it has signed one billion dollars in sales contracts and plans to start shipping to customers this summer.
The bulk of the funding came from a $500 million round led by Stripes that closed in December, valuing Etched at five billion dollars. That round included Peter Thiel, Positive Sum, Ribbit Capital, Hudson River Trading, and Two Sigma. Jane Street separately led a previously unannounced round and has invested more than $100 million in total, according to Bloomberg.
The...
Copyright of this story solely belongs to thenextweb.com. To see the full text click HERE
