Etched announces $700M raise at a $21B valuation from Jane Street, Kleiner Perkins, Sequoia, A16Z, Peter Thiel, BCV, and Blackstone. The first rack was shipped to Jane Street.

Etched has shipped its first rack to Jane Street, which tested the chip before leading the round. Jane Street said it was pleased with early results, adding that Etched's approach to inference delivers the precision needed for its most demanding workloads. The company raised $700M at a $21B valuation from Jane Street, Kleiner Perkins, Sequoia, A16Z, Peter Thiel, BCV, and Blackstone. Etched says under 1% of the world has access to frontier models and is hiring for projects including a gigawatt-scale factory and quadrillion-token cluster orchestration.

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