AI startup Etched raises $120 million to develop specialized chip


FILE PHOTO: AI (Artificial Intelligence) letters are placed on computer motherboard in this illustration taken, June 23, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

SAN FRANCISCO (Reuters) - 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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