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Etched

Hardware, Robotics & Semiconductors · San Francisco, California · Private

Etched designs purpose-built inference chips for transformer models. Its claim is that a specialised chip can beat general-purpose accelerators on the cost and efficiency of serving models.

$21BLatest valuationAug 2026
$700M Series DLatest financingAug 2026
AI inference chipsBusiness focusCompany profile
PrivatePublic statusNo confirmed public listing

The Company

Etched designs purpose-built inference chips for transformer models. Its claim is that a specialised chip can beat general-purpose accelerators on the cost and efficiency of serving models.

The $21B valuation puts a large price on a still-early hardware company. The key evidence to watch is customer deployment, software support, and production yield.

Why It Matters

The $21B valuation puts a large price on a still-early hardware company. The key evidence to watch is customer deployment, software support, and production yield.

Valuation History

  1. $5.0B→Jan 2026$500M roundSource ↗
  2. $21.0B→Aug 2026$700M Series DSource ↗

What Changed

  1. Earlier public financing or market context recorded.

  2. Latest profile review: $700M Series D.

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