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July 23, 2026 - Deals
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
#VentureCapital #Etched #GavinUberti #TradedPartner #TradedVC
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Anduril Industries In Funding Round Discussions With Investors For $100 Billion ValuationAnduril Industries, the defense technology company founded by Palmer Luckey, is in discussions with investors for a new funding round that could value the company at approximately $100 billion. While the financing plans remain under discussion and Anduril says no decisions have been made, the potential valuation would place the company among the most valuable defense firms in the world, approaching the scale of established contractors such as Lockheed Martin. The talks follow strong growth for Anduril, which reported $2.2 billion in 2025 revenue, recently completed a $5 billion funding round at a $61 billion valuation, and has continued expanding its portfolio of drones, software, and military systems.
FOUNDER: Palmer Luckey
VALUATION: $100,000,000,000
HQ: Costa Mesa, California
#VentureCapital #AndurilIndustries #PalmerLuckey #TradedVC
Oracle Secures $6.9 Billion Defense Contract With The Department Of WarOracle secured a major new U.S. defense contract, with the Department of War awarding the company an Enterprise Software Agreement valued at approximately $6.9 billion over as many as 10 years. The deal consolidates on-premises Oracle software licenses across the Pentagon, Coast Guard, and Intelligence Community into a single purchasing vehicle, replacing fragmented agency-by-agency procurement and aiming to reduce administrative overhead and licensing costs. The agreement further strengthens Oracle’s growing defense business, following several recent military cloud and AI-related contract wins, and reflects the Pentagon’s broader strategy of using enterprise-wide agreements to achieve greater efficiency and purchasing power.
FOUNDER: Larry Ellison
VALUATION: $6,900,000,000
HQ: Austin, Texas
#VentureCapital #Oracle #LarryEllison #TradedVC
Stripe In Talks To Acquire AI Startup OpenRouter For $10 BillionStripe is reportedly in advanced talks to acquire AI startup OpenRouter in a deal that could value the company at around $10 billion. The potential purchase would mark a significant increase from OpenRouter’s $1.3 billion valuation established during its $113 million Series B funding round in May, which was led by CapitalG, Alphabet’s growth investment arm. Founded in 2023 by Alex Atallah, who also co-founded OpenSea, OpenRouter operates a marketplace that gives developers access to more than 300 AI models through a unified API and has become a key player in the AI infrastructure ecosystem. The acquisition would deepen the relationship between the two companies, which already collaborate through Stripe’s payments and developer tools, while signaling Stripe’s ambitions to expand beyond payments into AI infrastructure.
VALUATION: $10,000,000,000
HQ: South San Francisco, California
#VentureCapital #Stripe #OpenRouter #TradedVC