Etched Secures $300M in Series C, Surges to $10.3B Valuation
WHO:
TechCrunch - Etched was founded in 2022 by three Harvard dropouts.
Techmeme - Etched, an AI inference chip startup, was founded by three Harvard dropouts.
TechCrunch - Investors in the Series C funding round included Sequoia, a16z, and SK Hynix.
WHAT:
CNBC - Intel reported second-quarter earnings of 42 cents per share, adjusted, exceeding expectations of 21 cents.
CNBC - Intel's revenue for the second quarter was $16.1 billion, surpassing the expected $14.42 billion.
CNBC - Intel's stock has increased over 170% in 2026, following an 84% rise in the previous year.
CNBC - Intel expects adjusted earnings per share of 38 cents for the current quarter, with revenue projected between $15.8 billion and $16.8 billion.
TechCrunch - Etched has closed a $300 million Series C funding round.
Techmeme - Etched raised $300 million in a Series C funding round.
Techmeme - The valuation of Etched surged to $10.3 billion, up from $5 billion in December.
TechCrunch - Etched has developed new chips and memory components that enhance inference speed on AI models without the need for GPUs.
WHERE:
Techmeme - The location of Etched's founding is not specified, but it is associated with Harvard.
WHEN:
TechCrunch - The Series C funding round was recently completed.
Techmeme - The Series C funding round occurred recently, with a valuation comparison to December of the previous year.
WHY:
TechCrunch - Etched aims to provide faster inference for AI models, addressing the need for improved performance in AI applications.
HOW:
TechCrunch - The startup claims its chips and memory components can speed up inference on any AI model without requiring GPUs.
(UPDATED July 24, 2026 01:27 UTC)
Intel has reported impressive second-quarter earnings of 42 cents per share, significantly surpassing expectations of 21 cents, along with revenue of $16.1 billion, which exceeded the anticipated $14.42 billion. The company's stock has skyrocketed over 170% in 2026, following an 84% increase in the previous year. Looking ahead, Intel anticipates adjusted earnings per share of 38 cents for the current quarter, with revenue projected to fall between $15.8 billion and $16.8 billion.
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(UPDATED July 23, 2026 22:22 UTC)
Etched, a company founded in 2022 by three Harvard dropouts, has successfully closed a $300 million Series C funding round. This significant financial milestone was recently completed, marking a major step in the company's growth. The funding will likely support Etched's future initiatives and expansion plans.
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(UPDATED July 23, 2026 15:41 UTC)
Etched, an AI inference chip startup founded by three Harvard dropouts, has successfully raised $300 million in its Series C funding round, boosting its valuation to $10.3 billion, a significant increase from $5 billion just last December. Investors in this funding round include major players like Sequoia, a16z, and SK Hynix, all backing Etched's mission to enhance AI model performance with its innovative chips and memory components that eliminate the need for GPUs. The startup is focused on providing faster inference speeds for AI applications, addressing a critical demand in the tech industry.