Etched.ai is a technology company specializing in the development of Application-Specific Integrated Circuits (ASICs), aiming for high-performance computing applications. The company has a mission of creating custom hardware solutions designed to optimize efficiency and performance for specific tasks. The company’s flagship product, Sohu, aims to be one of the world's first transformer ASICs designed to accelerate machine learning and artificial intelligence workloads. Etched.ai was founded by Chris Zhu, Gavin Uberti, and Robert Wachen in 2022 and is headquartered in San Francisco, CA.
Etched is privately held and not traded on public markets, so pre-IPO investments are available only to accredited investors.
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Can you sell shares of Etched before it goes public?
Yes, subject to any contractual or corporate transfer restrictions, it is possible to list your shares to sell while Etched is still private. If you’re considering selling, you can register today for free to get started. Once registered, you can evaluate pricing insights and market activity to inform your decision, then post your shares for sale and set the terms, like quantity and price—all directly through our platform.
If you’d like additional guidance at any point, Forge private market specialists are available to help. For a step-by-step overview, check out our seller’s guide.
What is the pre-IPO value of my Etched shares?
To explore the value of your Etched shares, create a free account to access Forge’s marketplace. Once inside, you’ll find several pricing insights to help guide your decision—these include historical transaction data, a live order book showing current buy and sell interest, and Forge Price™, a derived, indicative price based on recent transactions, investor activity, and other relevant market data.
These insights can help you determine a price you’re comfortable with if you choose to sell your shares. If you’d like additional guidance along the way, Forge private market specialists are available to help. You can also review our seller’s guide for a step-by-step overview.
Is Etched a publicly traded company?
Etched is a private company and not publicly traded.
If you’re interested in buying or selling shares in private companies, you can register with Forge today for free to explore available opportunities. Once registered, you’ll gain access to our marketplace, where you can view active buy and sell interest, evaluate pricing signals and take action directly through the platform.
To learn more about Etched potential IPO
Will Etched go IPO?
Etched has not yet filed for an IPO. However, it’s important to note that IPOs are not the sole avenue for a private company to transition to public trading. Private companies can also go public through alternative methods such as but limited to Special Purpose Acquisition Companies (SPACs), direct listings, or mergers and acquisitions. Find out which companies are eyeing an IPO on our Tech IPO Calendar 2025.
What is Etched’s IPO price?
The Etched IPO price does not exist at this time, as Etched is still a private company and has not yet conducted an IPO. To explore secondary market data and access private market pricing details and data that may be related to Etched, register for Forge today.
When was Etched founded?
Etched was founded in 2022.
What is Etched funding to date?
Etched has raised $720.55MM to date.
Etched major investors
Az-Vc
Earthshot Ventures
Firestreak Ventures
Fontinalis Partners
Fundomo
Hummingbird Capital Partners
Lightscape Partners
Neo
Oceans Ventures
Positive Sum
Primary Venture Partners
Red Dog Capital
Skybox Datacenters
Soma Capital
Two Sigma Ventures
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Etched pre-IPO valuation and funding rounds
Funding history chart
Funding round and deals details
Funding Date
Round
Amount Raised
Price per Share
Post-Money Valuation 3
Key Investors
01/13/2026
Series B
$169.97MM
$15.53
$5B
Peter Thiel, Positive Sum, Ribbit Capital, Stripes
Price per Share
$ xx.xx
Shares Outstanding
10,942,329
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Peter Thiel, Positive Sum, Ribbit Capital, Stripes
01/13/2026
Series B-1
$216.32MM
$15.53
$5B
Peter Thiel, Positive Sum, Ribbit Capital, Stripes
Price per Share
$ xx.xx
Shares Outstanding
13,926,602
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Peter Thiel, Positive Sum, Ribbit Capital, Stripes
01/13/2026
Series AI-3
$113.71MM
$11.89
$5B
Peter Thiel, Positive Sum, Ribbit Capital, Stripes
Price per Share
$ xx.xx
Shares Outstanding
9,563,296
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Peter Thiel, Positive Sum, Ribbit Capital, Stripes
03/25/2025
Series AI
$85MM
$5.83
$1.48B
Undisclosed Investors
Price per Share
$ xx.xx
Shares Outstanding
14,577,640
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Undisclosed Investors
03/25/2025
Series AI-2
$25.39MM
$3.09
$1.48B
Undisclosed Investors
Price per Share
$ xx.xx
Shares Outstanding
8,215,710
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Undisclosed Investors
03/25/2025
Series AI-1
$449,964.20
$2.06
$1.48B
Undisclosed Investors
Price per Share
$ xx.xx
Shares Outstanding
218,390
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Undisclosed Investors
06/25/2024
Series A0
$103.5MM
$1.63
$332.53MM
Amjad Masad, Balaji Srinivasan, Bryan Johnson, Charlie Cheever, David Siegel, Earthshot Ventures, Fontinalis Partners, Fundomo, Hummingbird Ventures, Immad Akhund, Jason Warner, Jawed Karim, Kevin Hartz, Kyle Vogt, Lightscape Partners, Mike Novogratz, Oceans Ventures, Peter Thiel, Positive Sum, Primary Venture Partners, Skybox Datacenters, Stanley Druckenmiller, Thomas Dohmke, Two Sigma Ventures
Price per Share
$ xx.xx
Shares Outstanding
63,666,490
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Amjad Masad, Balaji Srinivasan, Bryan Johnson, Charlie Cheever, David Siegel, Earthshot Ventures, Fontinalis Partners, Fundomo, Hummingbird Ventures, Immad Akhund, Jason Warner, Jawed Karim, Kevin Hartz, Kyle Vogt, Lightscape Partners, Mike Novogratz, Oceans Ventures, Peter Thiel, Positive Sum, Primary Venture Partners, Skybox Datacenters, Stanley Druckenmiller, Thomas Dohmke, Two Sigma Ventures
06/25/2024
Series A0-3
$784,954.86
$1.30
$332.53MM
Amjad Masad, Balaji Srinivasan, Bryan Johnson, Charlie Cheever, David Siegel, Earthshot Ventures, Fontinalis Partners, Fundomo, Hummingbird Ventures, Immad Akhund, Jason Warner, Jawed Karim, Kevin Hartz, Kyle Vogt, Lightscape Partners, Mike Novogratz, Oceans Ventures, Peter Thiel, Positive Sum, Primary Venture Partners, Skybox Datacenters, Stanley Druckenmiller, Thomas Dohmke, Two Sigma Ventures
Price per Share
$ xx.xx
Shares Outstanding
603,570
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Amjad Masad, Balaji Srinivasan, Bryan Johnson, Charlie Cheever, David Siegel, Earthshot Ventures, Fontinalis Partners, Fundomo, Hummingbird Ventures, Immad Akhund, Jason Warner, Jawed Karim, Kevin Hartz, Kyle Vogt, Lightscape Partners, Mike Novogratz, Oceans Ventures, Peter Thiel, Positive Sum, Primary Venture Partners, Skybox Datacenters, Stanley Druckenmiller, Thomas Dohmke, Two Sigma Ventures
05/16/2023
Series A0-2
$1.41MM
$0.24
$31.2MM
Devin Wenig, Michael Kohen, Primary Venture Partners
Price per Share
$ xx.xx
Shares Outstanding
5,804,310
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Devin Wenig, Michael Kohen, Primary Venture Partners
05/16/2023
Series A0-1
$4.01MM
$0.18
$31.2MM
Devin Wenig, Michael Kohen, Primary Venture Partners
Price per Share
$ xx.xx
Shares Outstanding
22,449,880
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Devin Wenig, Michael Kohen, Primary Venture Partners
A 2-year-old startup founded by Harvard dropouts has just raised $120 million in venture funding to try and build a competitive chip and take on Nvidia in artificial intelligence. Headquartered in Cupertino, California — home to Apple — Etched is developing a chip called Sohu, which the company says will be used to train and deploy AI models using “transformers,” the core architecture underpinning advancements like OpenAI’s ChatGPT.
Etched’s chip, called Sohu, is an ASIC (application-specific integrated circuit) — a chip tailored for a particular application — made for running transformers. Manufactured using TSMC’s 4nm process, Sohu can deliver dramatically better inferencing performance than GPUs and other general-purpose AI chips while drawing less energy, claims Uberti.
Artificial intelligence chip startup Etched.ai Inc. said today it’s looking to rival Nvidia Corp. and become a market leader in dedicated AI chips, after closing on a hefty $120 million early-stage round of funding. The two-year old startup was founded by a couple of Harvard university dropouts, who believe they have just what it takes to challenge Nvidia – a specialized chip that’s designed to power AI models known as “transformers,” which sit at the heart of OpenAI’s ChatGPT and other chatbots.
Artificial-intelligence startup Etched said on Tuesday it has raised $120 million in a series-A funding round that the company plans to use to further develop its specialized chip. The San Francisco-based company aims to make a specialized processor tuned to run a specific kind of AI model that is widely used by OpenAI’s ChatGPT and Google Gemini.
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