Infrastructure
Etched emerges from stealth with working transformer-inference ASIC, $800M raised, $1B+ in customer contracts
Image: Primary SAN JOSE -- AI chip startup Etched emerged from stealth on June 30 with a working transformer-inference ASIC, saying it has secured over $1 billion in signed customer contracts and raised $800 million in total financing. The company, which makes dedicated inference systems, said its latest round was $500 million in financing at a $5 billion post-money valuation in December 2025. Investors include VentureTech Alliance, Peter Thiel, Jane Street, Hudson River Trading, Jump Trading, Two Sigma, Stripes, Ribbit Capital, Radical Ventures, Primary VC, and Positive Sum, alongside AI figures Andrej Karpathy, Geoffrey Hinton, Fei-Fei Li, Stanley Druckenmiller, Arthur Mensch, and Scott Wu. Founded
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