According to CoinMeta, AI chip startup Etched raised $700 million in financing with a valuation of $21 billion, led by Jane Street. Less than a month ago, Etched completed a $300 million financing round with a valuation of $1.03 billion. Jane Street became the first customer, purchasing complete racks equipped with Etched AI acceleration chips. The company has accumulated orders worth over $1 billion and has already begun deliveries. Etched built its own server component factory in Taiwan, China. After receiving the first batch of test chips from TSMC, it successfully ran AI inference workloads in 44 days.