U.S. AI chip startup Etched announced a $300 million Series C funding round, pushing its valuation to $10.3 billion, more than doubling from $5 billion seven months ago. The round was led by Sequoia Capital, with participation from SK Hynix, Andreessen Horowitz (a16z), and others. Founded by three Harvard dropouts, Etched focuses exclusively on AI inference chips, developing proprietary Low Voltage Inference (LVI) and Cluster Scale Memory (CSM) technologies. Its first A0-version chips, built on TSMC's N4P process, have been successfully manufactured and validated in a complete rack-level system. Etched has secured over $1 billion in orders for its rack-based systems, with first shipments expected this summer. The company disclosed that cumulative funding had reached $800 million before this round, and total funding now stands at approximately $1.1 billion.