Etched Hits $21B Valuation as Jane Street Leads Round and Becomes First Customer

Etched raised $700 million at a $21 billion valuation on August 18, 2026, led by Jane Street — up from $5 billion in December 2025. The same day, Jane Street received and purchased Etched's AI hardware, deploying a rack in its datacenter. Jane Street said it was pleased with early results. The round marks Etched's first production customer delivery.