Etched, a startup founded by three Harvard dropouts, has secured significant investment and reached a substantial valuation due to its novel approach to AI processing.
Etched has developed new chips and memory components designed to accelerate AI inference – the process of using a trained AI model to make predictions or decisions. The company claims its technology can speed up inference on *any* AI model without requiring Graphics Processing Units (GPUs), which are traditionally used for this purpose.
The startup recently achieved a $10.3 billion valuation, backed by an influx of investment from unnamed “big-name investors,” according to TechCrunch. The company’s core innovation lies in its ability to bypass the need for GPUs, potentially offering a more efficient and cost-effective solution for running AI applications.
The source does not provide details on specific investors or the precise amount of funding raised, but highlights the confidence investors have in Etched's technology despite skepticism surrounding new entrants into the competitive AI chip market. The company’s founding team consists of three individuals who left Harvard to pursue this venture.
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