Etched raises $700M Series D at $21B valuation led by Jane Street

Etched/Sohu

Etched closed a $700M Series D at $21B valuation, doubling the company's value in less than a month after Jane Street testing confirmed strong performance. The round was led by Jane Street and reflects surging investor demand for proven AI inference hardware.

• $700M Series D led by Jane Street; first customer now also investor
• Valuation doubled from $10.3B (July) to $21B (August), driven by first production shipment and customer validation
• Company now receiving funding offers at $40-50B valuations as of October 2026