Etched valuation doubles to $21B after Jane Street installs its first AI cluster

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AI chip startup Etched has seen its valuation double to $21 billion in roughly a month following a major new funding round. Financial firm Jane Street led the investment after becoming the first customer to have Etched's AI cluster system installed and operational. The deployment apparently impressed Jane Street enough to back the company with another substantial round of capital. Etched disclosed these details itself, highlighting the real-world validation of its hardware by a high-profile client.

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