Nvidia's New AI Rival Could Reportedly Be Worth $20 Billion

Benzinga_recent_news07-18 15:05

Nvidia (NASDAQ:NVDA) rival AI chip startup Etched is reportedly in talks to raise funds at roughly a $20 billion valuation, quadrupling its prior mark. Existing backer Jane Street is spearheading the ...

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Separately, Etched is raising a round led by Sequoia Capital at a $10 billion valuation. Neither deal has closed, and terms may still shift.\nEtched did not immediately respond to Benzinga‘s request for comment.\nThe two funding rounds reflect a growing trend among AI startups, which are raising capital at sharply different valuations within weeks. Strong investor demand, limited access to top-tier deals, and fear of missing out on the next big AI winner are pushing some backers to pay up quickly, allowing companies to return for follow-on rounds at steeply higher prices.\nSan Jose-based Etched builds chips for AI inference, running trained models, rather than general-purpose GPUs like Nvidia’s. Its website cites roughly $1 billion in customer interest, though large-scale deliveries haven’t started.\nFounded in 2022 by Harvard dropouts Gavin Uberti, Chris Zhu and Robert Wachen, Etched counts Peter Thiel and Ribbit Capital among early backers.\nDisclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.\nImage via Shutterstock\nTo add Benzinga News as your preferred source on Google, click here.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.46.0","shortVersion":"4.46.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2652321192","isCrawlerRequest":true}