Sequoia Backs Etched, Whose Inference Chip Ships in 2026 After First Tape-Out

Sequoia Capital is leading Etched's $300 million Series C at a $10 billion pre-money valuation, backing the startup's custom inference silicon. Etched says its first-generation chip taped out at TSMC on leading-edge nodes and that its first cluster ran a range of frontier models in 40 days, with early customers now getting access.