Key facts
- Etched raised $700 million at a $21 billion valuation.
- Etched's valuation more than doubled in under a month.
- Anthropic's annual revenue run rate exceeded $65 billion by July.
- Anthropic's revenue run rate was $47 billion in May.
- Anthropic is seeking a credit facility exceeding $10 billion.
- Velaura AI secured $110 million in a Series A funding round.
- Velaura AI's valuation now exceeds $1 billion.
- Velaura AI develops low-power chip and software for AI data centers and physical AI.
- Smack Technologies is raising $61 million in Series B funding.
- Smack Technologies develops wearable AI for the military.
- Pentagon pressure is driving demand for diverse AI vendors.
The artificial intelligence sector continues to see substantial investment and growth, with multiple companies announcing significant funding rounds and valuation milestones. AI chip startup Etched has announced it raised $700 million at a $21 billion valuation, more than doubling its worth in less than a month. This surge in valuation reflects investor confidence in Etched's specialized AI inference hardware, positioning it as a potential challenger to Nvidia's current market dominance.
In parallel, AI firm Anthropic has reported impressive financial growth, with its annual revenue run rate surpassing $65 billion by July, a notable increase from $47 billion in May. The company is also reportedly exploring the possibility of securing a credit facility valued at over $10 billion, signaling its readiness for a potential initial public offering (IPO).
Velaura AI has successfully closed a $110 million Series A funding round, which places its valuation at over $1 billion. Velaura AI's focus lies in developing energy-efficient chip and software technologies specifically designed for AI data centers and physical AI applications.
Meanwhile, defense technology startup Smack Technologies is in the process of raising $61 million in a Series B funding round. This capital infusion is intended to accelerate the production of its AI hardware and the development of wearable AI solutions tailored for military use. The increased demand for companies like Smack is partly attributed to pressure from the Pentagon, which is actively seeking a broader range of AI vendors following a supply-chain risk designation for Anthropic.