Etched Raises $300 Million in Series C Funding Round

The United States AI chip startup called Etched raised $300 million in a Series C funding round. The company manufacture special computer chips for AI, as AI is becoming more powerful and the company needs faster and better chips. This new funding will help Etched build these advanced AI chips demanded by companies. During the funding, the biggest investor was Sequoia Capital, a company that invests money in private technology companies to offer financial support and strategic guidance to startups from the early idea stage.

After this funding, Etched is now worth around $10.3 billion, which is a massive amount for its future development.

Another major chipmaker company that invested in Etched was SX Hynix. The company mainly sells DRAM (about 60–70% of its business)  and NAND memory (about 30–35%). After investing in Etched, SX Hynix believes it can gain benefits if Etched becomes more successful in the AI industry.

SX Hynix has strong finances, and the company is expected to grow well in future. The company has a Piotroski F-Score of 7, which means the company's financial health is good.

Also read: Apple Unites with Klarna for New Device Leasing Program

SK hynix's stock may be expensive. Current P/E Ratio: 24.04 and Forward P/E Ratio: 7.07. Investors expect the company's earnings to grow in the future, but the stock price is already quite high. The company is in a good position to benefit from the AI boom. However, its stock may already be priced too high, so investors should be careful before buying.

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