Etched Valuation Soars as Tech Leaders Rally Behind Trump's Crypto Push
AI chip startup Etched has secured $700 million in funding at a staggering valuation of $21 billion, more than doubling its previous valuation of $10.3 billion.
The company develops specialized hardware for AI inference and aims to challenge conventional GPUs as demand for AI computing grows.
Jane Street led the funding round and has begun deploying Etched's hardware.
In other news, Indian babycare startup Peeko has raised Rs. 67.4 crore in Series A funding led by Chiratae Ventures.
The company plans to expand its delivery network, technology and workforce, with a focus on increasing its 60-minute delivery coverage across Bengaluru.
China's youth unemployment rate rose to 17.9% in July as 12.7 million graduates entered a competitive job market, putting pressure on entry-level employment due to a slowing economy, cautious hiring, and increasing automation.