Etched targets $20B AI chip valuation in dual funding rounds

AI chip startup Etched is in talks to raise funding at a valuation of about $20 billion, quadrupling its prior mark, according to a Wall Street Journal report summarized by Investing.com on July 18, 2026. A separate round led by Sequoia Capital at a $10 billion valuation is also being explored, with Jane Street leading the larger proposed financing.