Etched
ET
Etched designs specialized AI accelerators and server systems for running transformer-based models. Its hardware targets inference workloads such as large language model serving in data centers. The company focuses on implementing transformer operations in silicon to reduce cost and energy per query versus general-purpose GPUs.
Founded by Gavin Uberti (Co-founder, CEO), Robert Wachen (Co-founder, President), Chris Zhu (Co-founder)
Blended valuation$22.3B$24.1B secondary
Valuation history
Weekly blended valuation with priced funding rounds marked on the timeline.
$24B
blended valuationfunding round
Dec 30, 2024$0Oct 5, 2026
All rounds
7 funding rounds, newest first.
| Round | Announced | Raised | Post-money |
|---|---|---|---|
| Series D | Aug 18, 2026 | $700M | $21B |
| Series C | Jul 23, 2026 | $300M | $10.3B |
| Round | Jan 14, 2026 | $500M | $5B |
| Round | Mar 25, 2025 | $110.8M | $1.5B |
| Series A | Jan 1, 2025 | $85M | $1.6B |
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Investors
59 investors across all rounds.
- PVPrimary Venture Partners
- STStripes
- SCSequoia Capital
- PTPeter Thiel
- PSPositive Sum
- CCConversion Capital
- RCRibbit Capital
- AMAmjad Masad
- AHAndreessen Horowitz
- AKAndrej Karpathy
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Secondary market activity
Recent buy and sell interest for Etched shares on the secondary market.
| Kind | Implied valuation | Price / share | Date |
|---|---|---|---|
| $24.1B | — | Oct 6, 2026 | |
| $1.6B | $59.00 | May 28, 2026 | |
| $1.6B | $59.00 | May 23, 2026 |
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Data as of Oct 15, 2026. Valuations are estimates blended from primary and secondary-market signals — not investment advice.