AI Chip Startup Etched Raises $120 Million to Expand Supply (1)

AI chip startup Etched raised $120 million to expand manufacturing of its specialized chip that it boasts will rival Nvidia Corp.’s products.

The round was led by Primary Venture Partners and Positive Sum Ventures, with participation from prominent angel investors, including Peter Thiel, Github Chief Executive Officer Thomas Dohmke and Balaji Srinivasan, former chief technology officer at Coinbase Inc., the company said Tuesday.

Etched is making a big bet that its Sohu AI chip will be a faster and more cost effective way to power transformers, which are a type of large language ...