Etched, a Cupertino-based AI chip startup, raised $120M in funding.

The round was led by Primary Venture Partners and Positive Sum Ventures, with notable participation from Hummingbird, Fundomo, Fontinalis, Lightscape, Earthshot, Two Sigma, Oceans Venture, Skybox Data Centers, and angels like Peter Thiel and Amjad Masad.

Etched plans to use the funds for expanding operations and enhancing development efforts.

Founded by Gavin Uberti, Robert Wachen, and Chris Zhu, Etched specializes in transformer AI chips, with its Sohu chip enabling high-performance transformer inference, including models like Llama and Stable Diffusion 3.