The Rise of Etched in the AI Space
The release of ChatGPT in November 2022 marked a significant turning point for the artificial intelligence (AI) industry. The attention surrounding this new language model brought focus to companies that were already working in the space, including Etched.
As reported by TechCrunch’s Found podcast, Etched co-founder and CEO Gavin Uberti shared his thoughts on how his company has benefited from being part of the AI boom.
Etched: A Company Born from Innovation
Etched was founded with a vision to build chips focused on transformer models. Although they had conceived this idea before the AI market began to flourish in November 2022, ChatGPT played a pivotal role in validating their approach and sparking investor interest.
"We got the idea months before the AI boom started," Uberti explained. "But ChatGPT kind of changed that. It put a great user interface onto these language models, and showed folks that yes, there is demand for half a million tokens per second for one of these big models."
This newfound recognition led to Etched securing a seed round and commencing their development efforts. The company has since raised over $125 million in venture funding.
A Head Start in the Transformer Space
Uberti emphasized the significance of being first movers in the transformer space, claiming that they have an 18-month head start on competitors like Nvidia and Google.
"It’s too late for them to catch up," Uberti said. "We’re going to get to market way earlier."
He also drew parallels with the development of Bitcoin mining ASICs, which became significantly more efficient than GPUs once released.
"Whether or not you’re a fan of cryptocurrency, the Bitcoin mining ASIC companies have been able to do quite well for themselves," Uberti noted. "They make the chips that mine Bitcoin; although they don’t run them, they sell them to other parties."
The Journey of Building Etched
Uberti shared details about his personal journey as a co-founder and CEO. He dropped out of Harvard to pursue building the company, highlighting the challenges he faced in recruiting talent for such a complex field.
"The biggest challenge has been finding people who understand the intricacies of AI," Uberti said. "We’ve had to think outside the box when it comes to hiring."
He also spoke about the importance of setting up benefits for employees, acknowledging that Etched realized too late the value of doing so.
Conclusion
Gavin Uberti’s reflections on Etched’s journey serve as a testament to the power of innovation and timing. As the AI industry continues to evolve, companies like Etched will play a crucial role in shaping its future.
Key Takeaways:
- ChatGPT’s release brought attention to Etched and other AI companies.
- Uberti believes Etched has an 18-month head start on competitors in the transformer space.
- Building chips for transformer models requires complex expertise, making recruitment a significant challenge.
- Etched has raised over $125 million in venture funding.
Further Reading:
- The Impact of ChatGPT on the AI Industry
- Etched Raises $50 Million to Develop Custom Chips for AI Models
About the Author:
Rebecca Szkutak is a senior reporter at TechCrunch, covering venture capital trends and startups. Prior to joining TechCrunch, she covered the same beat for Forbes and the Venture Capital Journal.
If you’re interested in learning more about Etched or would like to share your thoughts on their journey, please feel free to comment below.
