Originally published on AI Tech Connect.
What you need to know The round closed on 23 July 2026. $300 million Series C at a $10.3 billion valuation, led by Sequoia Capital, with a16z, Jane Street and SK Hynix participating. Reporting described it as Sequoia's highest-valued Series C. Etched exited stealth in late June 2026. Roughly $800 million raised in total, and over $1 billion in signed customer contracts already booked. The product is Sohu, a transformer-only ASIC. Fabricated on TSMC's N4P process, with 144 GB of HBM3E per chip and — on Etched's own published figures, which nobody independent has verified — roughly 1.8 times the memory bandwidth of an H100 SXM5. The performance figures are vendor claims. No third-party benchmark organisation has published independent throughput measurements from physical Sohu hardware under…
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