Etched Reaches $21B Valuation as Jane Street Leads Round and Takes First Hardware Delivery

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