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Technology

$10 billion startup gets SK Hynix backing to build a transformer that does just one thing but exceedingly well

TechRadar

TechnologyTechRadar·Aug 1, 2026·1 min read

$10 billion startup gets SK Hynix backing to build a transformer that does just one thing but exceedingly well

Etched reached a $10.3 billion valuation after securing fresh SK Hynix backing The startup built custom processors specifically for demanding AI inference workloads Etched says conventional GPUs waste power during many inference tasks…

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