Etched Raises $300 Million In Series C Funding From Sequoia And Others Valued At $10.3 Billion

Etched, a San Jose-based AI hardware company, has raised $300 million in Series C funding from Sequoia, Andreessen Horowitz, Jane Street, Argo, and SK Hynix. The round values the company at $10.3 billion. Founded by Gavin Uberti, Robert Wachen, and Chris Zhu, Etched develops frontier inference clusters and its Sohu chip, purpose-built to make running AI models significantly faster, more cost-effective, and more power-efficient than traditional general-purpose GPUs.

FUN FACT: In 2022, months before ChatGPT and years before Cursor, Claude Code, and Codex, Gavin Uberti, Robert Wachen, and Chris Zhu dropped out of Harvard to make a bet that looked, at the time, nearly irresponsible: they would build an entire inference system—new chips, boards, interconnects, and racks—from scratch. Etched's first racks ship to customers this summer, a 10-megawatt site is standing up, and customers are already running workloads on Etched hardware remotely.

FOUNDERS: Gavin Uberti, Robert Wachen & Chris Zhu

INVESTORS: Sequoia, Andreessen Horowitz, Jane Street, Argo, SK Hynix & Soma Capital

ROUND: Series C AMOUNT: $300,000,000 VALUATION: $10,300,000,000

HQ: San Jose, California

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