Etched raises $700 million in Jane Street-led round

Etched has raised $700 million in a funding round led by Jane Street, which the Wall Street Journal identifies as a new customer for Etched server racks. The report values the AI inference-chip startup at $21 billion, up from $10.3 billion after a $300 million raise in July. Etched has signed the quantitative-trading firm Jane Street as its first customer.