Etched Secures $700M Funding at $21B Valuation, Launches First Jane Street Cluster
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SAN JOSE, Calif. (Azat TV) – AI infrastructure startup Etched announced on August 18, 2026, that it has closed a $700 million funding round, pushing the company's valuation to $21 billion. This marks a significant acceleration in the firm's financial trajectory, as its valuation has doubled in just one month following a $300 million Series C raise in July. The round was led by Jane Street, with participation from major venture capital firms including Kleiner Perkins, Sequoia, Andreessen Horowitz, and Tiger Global. The capital injection comes as Etched transitions from development to commercial deployment. Alongside the funding announcement, the company confirmed that Jane Street has become its first customer, having taken delivery of a rack-scale inference cluster last month. The quantitative trading firm is currently integrating the hardware into its production workloads. Etched distinguishes itself by focusing exclusively on "frontier inference clusters," designed to optimize the compute-intensive processes required for running large-scale AI models. According to co-founder and COO Robert Wachen, the hardware is built to address the two distinct phases of inference: the "prefill" stage, which processes prompts, and the "decode" stage, which generates output tokens. The company's systems utilize two core proprietary technologies: By co-designing these components, Etched...
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