Etched raises $300M at a $10.3B valuation to scale GPU-free inference chips

AI chip startup Etched closed a $300 million Series C led by Sequoia, Andreessen Horowitz, and SK Hynix, reaching a $10.3 billion valuation and marking the highest valuation Sequoia has ever led at that stage. The company's chips use Low Voltage Inference and Cluster Scale Memory architectures to cut inference costs, backed by over $1 billion in signed customer contracts.