Woofun AI reports that AI chip startup Etched has closed a $300 million Series C funding round, establishing a company valuation of $10.3 billion. The investment was led by Sequoia Capital, with participation from Andreessen Horowitz, SK Hynix, Jane Street, and Diffusion Capital.

Founded in 2022, Etched specializes in building chip systems for AI model inference. The company recently achieved mass production of its proprietary chips and initiated customer testing of complete systems. Etched also confirmed securing approximately $1 billion in orders, marking a valuation increase from $5 billion in December 2025.