Etched Raises $700 Million At $21 Billion Valuation As Customer Contracts Top $1 Billion And Jane Street Deploys First Rack
By Amit Chowdhry ● Aug 19, 2026
Etched has raised $700 million in new funding at a $21 billion valuation as the AI semiconductor company moves from chip development into customer deployments, with Jane Street becoming its first customer and more than $1 billion of contracts already secured across AI companies and cloud providers. The round was led by Jane Street, with participation from Kleiner Perkins, Sequoia, Andreessen Horowitz, Tiger Global, Bain Capital Ventures, Neo, Primary, Stripes, Positive Sum and Blackstone.