Etched, a startup focused on artificial intelligence hardware, has reached a $21 billion valuation and is actively recruiting engineers from Nvidia, a leading chip designer. The company, which was founded by individuals who dropped out of Harvard University, has established its own data center on-site.
Jane Street, a prominent quantitative trading firm, has signed on as Etched's first customer. The startup's rapid ascent and its focus on specialized AI hardware signal a growing competition in the semiconductor industry, particularly in the race to develop more efficient chips for AI applications.