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Etched Company doubles valuation to 21B
The company "Achted," backed by "Jain Street," announced that its valuation has doubled to $21 billion in less than a month, after raising $700 million in funding led by the same investor, along with participation from firms such as "Clyne Perkins," "Sequoia," and "Andressen Horowitz." The company is focused on developing specialized inference systems for artificial intelligence, aiming to make AI model deployment faster and more cost-effective, especially in the chip market used for AI models, which is experiencing significant growth driven by increased demand for inference computations. These developments are part of the competition to challenge Nvidia's dominance in the AI chip market, as the company has signed contracts worth over $1 billion with AI and cloud service providers. To date, it has raised a total of $1.9 billion in funding.
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