According to CoinMeta, Wu said that AI chip startup Etched announced the completion of a $700 million financing round, with the company's valuation reaching $21 billion. The investors include Jane Street, Kleiner Perkins, Sequoia, A16Z, Peter Thiel, BCV, and Blackstone. Etched had previously received support from Galaxy and completed its Series A financing in 2024. The company stated that it has delivered the first AI chip server rack to Jane Street and plans to continue building infrastructure for fast, low-cost AI inference.