Etched Raises $500M to Compete with Nvidia in AI Chip Market
Etched has secured $500 million in funding, led by Stripes, to position itself as a competitor to Nvidia in the AI chip market, bringing its valuation to $5 billion. Founded in 2022 in San Jose, California, the startup specializes in custom ASICs for AI applications, including its Sohu chip developed with Taiwan Semiconductor Manufacturing. With this latest round, Etched's total funding has approached $1 billion.
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Etched has raised $500 million in funding, led by Stripes, to challenge Nvidia in the AI hardware sector. This investment values Etched at $5 billion. The startup, founded in 2022 and based in San Jose, California, focuses on custom ASICs for AI applications, including its Sohu chip, produced in collaboration with Taiwan Semiconductor Manufacturing.
Etched has raised nearly $1 billion to date. Nvidia, with a market cap of $4.52 trillion, maintains strong financial health, projecting over $500 billion in sales from data center operators by 2026.
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