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Jane Street and TSMC's venture arm have backed Etched, the startup betting that locking silicon to transformers beats Nvidia on inference economics

Etched, the transformer-specialized AI chip startup valued at $5 billion, has revealed Jane Street and a TSMC-linked venture firm as investors. The disclosures, reported by Bloomberg on June 30, 2026, arrive as the company puts its total funding at $800 million and claims $1 billion in contracts for its Sohu chip, which it says can replace up to 160 Nvidia H100s per server.