Episode Details

Etched just raised $700M, catapulting its valuation to $21B — a jaw-dropping leap from $5B just three months ago. The AI startup’s breakthrough? Custom hardware designed to turbocharge AI inference: a low-voltage chip for prompt processing and cluster-scale memory for lightning-fast response generation. No longer locked to specific models, their systems run any major AI model — even impressing Jane Street, which now runs a rack of Etched gear in its own data center. Investors are betting big on Etched’s radical approach to solving the AI inference bottleneck — and the results are already delivering.

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