AI startup Etched is negotiating financing with a post-investment valuation target of 20 billion US dollars.

Insiders revealed that Etched, a startup company developing AI chips to compete with NVIDIA, is advancing a new round of financing. The round is led by existing shareholder Simplified Capital, and the company's valuation may triple to around $20 billion. Insiders said that thanks to the current investment frenzy in the venture capital market for artificial intelligence startups, this San Jose-based company is also simultaneously advancing another round of independent financing led by Sequoia Capital, with a corresponding valuation of $10 billion. Both financing rounds have not been completed and there is still a possibility of changes in the terms of the deals.