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Gavin Uberti

Gavin Uberti is the co-founder and chief executive officer of Etched, a company that develops specialized inference chips and cluster systems for running large AI models, starting with Sohu, a chip designed only for transformer models; he is a member of the 2024 class of the Thiel FellowshipThiel FellowshipThe Thiel Fellowship is a two-year grant program started by investor Peter Thiel and run by the Thiel Foundation that funds young people who skip or stop out of college to build new things instead. The program has been criticized by figures in education for encouraging young people to leave college.Open the full entry.

Contents17 sections
Key facts

High School Years: Mathematics

The Thiel Foundation’s list of fellows published in 2024 gives his hometown as Seattle, Washington StateWashington (state)Washington is a state on the Pacific coast of the northwestern United States; its capital is Olympia and its largest city is Seattle. Washington was admitted to the Union on November 11, 1889, as the 42nd state, and the 2020 census (April 1, 2020) counted 7,705,281 residents.Open the full entry. He recalled on the Pioneers of AI podcast that he had been a world champion in mathematics as a high-school student: “I was a world champion for mathematics in high school.” The guest description on the show’s page likewise mentions a world mathematics championship in high school, without naming the competition.⁠[1][2][3]

College: Harvard University

Paper on Usable Witness Encryption

On December 8, 2021, the paper “Building Usable Witness Encryption” by Gavin Uberti, Kevin Luo, Oliver Cheng and Wittmann Goh, with his name listed first, was submitted to arXiv. Building on an open-source multilinear map implementation of the CLT13 graded encoding scheme with asymmetric modifications, the authors report creating what they describe as the first ciphertext encoded with a candidate witness encryption scheme; using a reduction from Sudoku to Exact Cover, they encrypted the private key of a BitcoinBitcoinBitcoin (common symbol BTC) is an open peer-to-peer electronic cash protocol, network, and native digital asset. Full nodes independently verify transactions and blocks according to the consensus rules; transactions are recorded as UTXOs, and blocks are organized into a public ledger through proof of work. Bitcoin is not issued or managed by any single institution, but using, holding in custody, and trading it still involve key, privacy, market, and legal risks.Open the full entry wallet holding 22,700 satoshi, with a Sudoku as the witness.⁠[8]

He published the accompanying code under his GitHub account as the repository witness-encryption-demos, which describes itself as the first implementation of a possibly secure witness encryption scheme and states that three puzzles hold Bitcoin wallet keys as prizes: two large Sudokus that “can be solved by hand or with a computerized solver,” and one unsolvable 4×4 Sudoku.⁠[9]

Leaving Harvard and Writing Compiler Kernels at OctoML

CNBC writes that he and Christopher Zhu dropped out of Harvard University in 2022. He recalled on the Pioneers of AI podcast that he left about a year and a half into college to live as “a digital nomad,” traveling through South America and Southeast Asia and taking “a flight about once every four days”; asked how his parents reacted, he said, “I paid for it myself, so I didn’t really care.” He stressed: “I actually did not drop out to start EtchedEtchedEtched develops AI inference chips and rack systems, co-designing silicon, memory, interconnects, software and manufacturing for large-model inference.Open the full entry, I just dropped out.” EE Times wrote in 2023 that he had planned to take a year off from Harvard and instead took a job at OctoML.⁠[7][2][10]

EE Times writes that at OctoML he worked on the open-source Apache TVM compiler and on microkernels. His SEMI biography states that he built compilers at OctoML, wrote matmul kernels for Apache TVM and rewrote the Cortex-M convolution kernel, achieving state-of-the-art results on MLPerf Tiny; the Masters of Scale and SEMI biographies add that he has given guest lectures at Columbia UniversityColumbia UniversityColumbia University, formally Columbia University in the City of New York, is a private research university in New York City and a member of the Ivy League. Founded in 1754 by royal charter from King George II as King's College, it is the oldest institution of higher education in New York State and the fifth oldest in the United States. It was renamed Columbia College in 1784 and adopted the university name and moved to Manhattan's Morningside Heights in 1896. It has 17 schools and four affiliated colleges, with 35,978 students enrolled in fall 2025. Legal scholar Jennifer L. Mnookin became president on July 1, 2026.Open the full entry and TinyML. He recalled on the podcast that the job was writing microkernels in assembly for ARM’s Cortex-M4 and Cortex-M7 cores, which he called “some of the cheapest devices that you can buy.” TechCrunchTechCrunchTechCrunch is an American technology news outlet founded in 2005 by Michael Arrington and Keith Teare and headquartered in San Francisco; it mainly covers technology companies, startups, and venture capital, and hosts events such as TechCrunch Disrupt. Its ownership passed successively through AOL, Verizon, and Yahoo, and in 2025 Regent announced its acquisition.Open the full entry wrote in 2024 that he had previously worked at OctoML and Xnor.ai.⁠[10][5][4][2][11]

Co-founding Etched with Christopher Zhu

EE Times wrote in 2023 that while writing microkernels for Arm Cortex-M4 and M7 cores he found that their instruction set lacked an 8-bit multiply-accumulate (MAC) SIMD instruction, so that 8-bit MAC operations ran at roughly half speed; he said the problem “could never be fixed,” which pushed him and Christopher Zhu to build something better, while he also noticed interest shifting toward language models. CNBC writes that a summer internship on compilers exposed him to low-level hardware ideas, after which he and Christopher Zhu began working on a chip company, and that Robert Wachen then joined as a co-founder.⁠[10][7]

He said in 2024, “In 2022, we made a bet that transformers would take over the world.” MIT Technology Review writes that transformers were then competing with architectures such as convolutional neural networks and long short-term memory, and he admits that “it was a risky bet.” On TechCrunch’s Found podcast he said that the company had the idea of building chips for transformer models months before the AI boom began in November 2022; GPT-3 had seemed highly differentiated to him early on—“I could not fathom why folks weren’t talking about it”—and ChatGPTChatGPTChatGPT is a generative AI assistant launched by OpenAI on November 30, 2022. Through websites and applications, it provides conversation, writing, coding, search, file analysis, and image and voice interaction. It evolved from a free research preview into personal, enterprise and education plans, gradually adding deep research, Study mode and cross-application task execution. Its use has prompted continuing discussions about factual accuracy, personal privacy, copyright, education and teen safety.Open the full entry added a strong user interface and showed that there was demand for very high token throughput on large models. He also said on the Pioneers of AI podcast, “We began this company before ChatGPT came out.”⁠[11][12][13][2]

TechCrunch and VnExpress International give 2022 as the year Etched was founded, while SiliconANGLE gives 2021. TechCrunch wrote in 2026 that the three founders dropped out to launch Etched without knowing how to raise money or hire; the article states that the founders set up the servers needed to run chip-design tools in an early employee’s garage, and that whenever they needed rebooting, the employee would call his wife, who would press the reboot button.⁠[14][6][15][16]

Seed Round

EE Times wrote on June 21, 2023 that two 21-year-old Harvard dropouts had raised a $5.36 million seed round for Etched, led by Primary Venture Partners with MAX Ventures and angel investors including former eBayeBayeBay Inc. is an online marketplace company headquartered in San Jose, California, United States, founded in 1995 by Pierre Omidyar; it started out with person-to-person online auctions and listed on Nasdaq in 1998. As of the end of 2025, it had 135 million active buyers, and its platform’s gross merchandise volume in 2025 was nearly $80 billion.Open the full entry CEO Devin Wenig, valuing the company at $34 million; he was chief executive and Christopher Zhu chief technology officer. Brian Schechter, a partner at Primary, writes in the post announcing the firm’s Series A investment that Primary led Etched’s seed round.⁠[10][17]

The article states that the company’s first chip was code-named Sohu and that the company claimed up to 140 times the throughput per dollar of an NVIDIANVIDIANVIDIA is an American semiconductor and computing technology company that provides graphics processing units, artificial intelligence infrastructure, networking interconnects, and computing software, and is listed on Nasdaq under the ticker NVDA.Open the full entry H100 PCIe card on GPT-3 token processing; he attributed this mainly to throughput and support for large batches, said that they had “most of the architecture fleshed out,” and said that the company had “customer dollars committed,” without giving details. He said, “You have to bet hard on a single architecture”; pointing out that GPT-2 and Meta’s Llama differ mainly in model size and activation function, he argued that “transformers aren’t changing.” The seed money was to go toward hiring an initial team, starting RTL front-end development and approaching IP providers; Mark Ross, chief technology officer of Cypress in the early 2000s, had joined as chief architect. The company then expected a Series A around the beginning of 2024 and targeted Sohu for 2024.⁠[10]

Selected as a Thiel Fellow

On March 20, 2024, the Thiel Foundation announced its new class of 20 Thiel Fellows; he, Christopher Zhu and Robert Wachen were all selected for the Thiel Fellowship with Etched. The announcement states that each fellow receives $100,000 and access to a network of tech founders, investors, scientists and former fellows, and that fellows commit to working full-time on their projects. His entry in the list reads: “Etched was founded because the next 100x of scale requires silicon to be customized for a model’s architecture. Flexible AI chips don’t make sense in a world where training a single model costs more than designing an entire chip.”⁠[1]

Primary, an investor in Etched, writes in its post announcing the Series A that he, Robert Wachen and Christopher Zhu were among the first teams to receive the Thiel Fellowship together; TechCrunch also wrote in June 2024 that all three are Thiel Fellowship alumni. TechCrunch wrote in June 2026 that he and Robert Wachen had dropped out of Harvard and become Thiel Fellows in order to found the company, as he had explained to TechCrunch at the time.⁠[17][11][14]

$120 Million Series A and Unveiling of the Sohu Chip

CNBC and TechCrunch wrote on June 25, 2024 that Etched had raised a $120 million Series A co-led by Primary Venture Partners and Positive Sum. Primary’s post lists the other investors as Hummingbird, Two Sigma, Skybox Data Centers, Fundomo and Oceans, and the angel investors as Peter ThielPeter ThielPeter Thiel is an American entrepreneur and investor, a co-founder of PayPal and Palantir Technologies, and the first outside investor in Facebook. He is a partner at the venture capital firm Founders Fund and founded the Thiel Fellowship, which funds young people to leave college and build new things; his public skepticism of higher education, his support for Trump in 2016, and his funding of litigation against Gawker Media have drawn controversy.Open the full entry, Thomas Dohmke, Amjad MasadAmjad MasadAmjad Masad is a Jordanian-American software engineer, entrepreneur, and angel investor, and the co-founder and chief executive officer of Replit. He worked on developer tools at Codecademy and Facebook, founded the company Replit in 2016, and led its development from a browser-based programming environment into a platform for creating AI applications.Open the full entry, Jason Warner and Kyle Vogt; CNBC also names Stanley DruckenmillerStanley DruckenmillerStanley Druckenmiller is an American investor and philanthropist. He founded the hedge fund Duquesne Capital Management in 1981 and ran it until 2010, managed George Soros’s Quantum Fund from 1988 to 2000, and now leads the Duquesne Family Office, which manages his own capital.Open the full entry, and TechCrunch also names QuoraQuoraQuora is an American question-and-answer and knowledge-sharing website and the company that operates it, Quora, Inc., whose core product centers on users asking, answering, and voting to rank content; since 2022, the company has also offered Poe, a chat platform that aggregates AI models from multiple companies.Open the full entry co-founder Charlie Cheever and puts the total raised at $125.36 million. Primary’s post states that Positive Sum is Patrick O’Shaughnessy’s firm and that he appeared on its Invest Like the Best podcast.⁠[7][11][17]

CNBC writes that Etched, then two years old, was based in Cupertino, CaliforniaCaliforniaCalifornia is a U.S. state on the Pacific coast; its capital is Sacramento and its largest city is Los Angeles. California was admitted to the Union on September 9, 1850, as the 31st state. Its population at the 2020 Census (April 1, 2020) was 39,538,223, the largest of any state.Open the full entry, had 35 employees, had hired chip-industry veterans and offered housing stipends to new hires; Robert Wachen was its operating chief. He said, “If transformers go away, we’ll die,” and “But if they stick around, we’re the biggest company of all time.” He called it “the biggest bet in AI.” CNBC writes that $120 million is roughly what NVIDIA takes in as revenue in about half a day and that Etched “has to move faster”; he said the company aimed to win by being “the first product to market.” Its headquarters displayed a countdown timer.⁠[7]

TechCrunch writes that Sohu is an application-specific integrated circuit (ASIC) built for transformer models and manufactured on TSMCTSMCTSMC is a semiconductor manufacturer headquartered in Hsinchu, Taiwan, that pioneered the pure-play foundry model and manufactures chips for hundreds of customers worldwide.Open the full entry’s 4nm process, and that he claims it is an order of magnitude faster and cheaper than NVIDIA’s Blackwell GB200 GPUs for text, image and video transformers. He said, “One Sohu server replaces 160 H100 GPUs,” and that “our future customers won’t be able to afford not to switch to Sohu.” He said that unnamed customers had reserved “tens of millions of dollars” in hardware. CNBC writes that Sohu devotes less die space to memory and more to compute and uses one large core, and that the company claims its chips are more than 10 times faster than NVIDIA’s GPUs.⁠[11][7]

Brian Schechter of Primary describes him in the post as “mature beyond his years, visionary” and obsessed with details.⁠[17]

Guest on TechCrunch’s Found Podcast

On August 20, 2024, TechCrunch released an episode of its Found podcast with him as guest, its title quoting him as saying that Etched “stands on the shoulders of giants.” He said on the show that it is a matter of time before NVIDIA, GoogleGoogleGoogle is an American technology company founded by Larry Page and Sergey Brin and incorporated in 1998. It became an Alphabet subsidiary in 2015. Its businesses include internet search, advertising, software platforms, cloud computing, and artificial intelligence.Open the full entry and the hyperscalers begin to compete, but “I think we have more than an 18-month head start on them”; he compared Etched’s strategy to Bitcoin mining, where makers of specialized ASICs sell chips to others rather than running them, and where ASICs far outperformed GPUs once they arrived. He also talked about dropping out of Harvard to build the company and what it has been like being a CEO and hiring for such a complex area, and said that Etched had set up employee benefits too late. The episode page states that Etched had by then raised more than $125 million in venture funding and that its chips were not yet on the market.⁠[13]

Named to MIT Technology Review’s Innovators Under 35

MIT Technology Review named him, at 23, to its 2025 Innovators Under 35 list in the category of artificial intelligence and robotics, with the line “He created a specialized AI chip to take on Nvidia.” The profile states that Sohu, the chip he co-designed, can by his account deliver “10 times the throughput” of a top NVIDIA chip for a type of calculation used in generative AI tools, and that its circuits “can do only one thing, exceedingly well”; if the AI industry moves away from transformers, Etched’s business would be finished, while if he is right, Etched could grow into “one of the largest businesses in the world” or be bought by one.⁠[12]

$500 Million at a $5 Billion Valuation

TechCrunch wrote in June 2026 that an unannounced $500 million round had closed the previous December at a $5 billion post-money valuation, led by Stripes with VentureTech Alliance, Jane Street, Hudson River TradingHudson River TradingHudson River Trading is a proprietary trading firm headquartered at 3 World Trade Center in New York. Through its broker-dealer HRT Financial LP it trades for its own account and makes markets in US equities, options and futures, and it also handles part of the customer order flow of the retail broker Robinhood.Open the full entry, Two Sigma and Ribbit CapitalRibbit CapitalRibbit Capital is a venture-capital firm founded in 2012 by Meyer “Micky” Malka and headquartered in Palo Alto, California. It began with financial-technology investing and has expanded into AI, commerce and related infrastructure. Its investments include Coinbase, Robinhood and Nubank.Open the full entry; angel investors included Andrej KarpathyAndrej KarpathyAndrej Karpathy is an AI researcher and educator, one of the founding members of OpenAI, who served as Tesla’s Director of AI and led the Autopilot computer vision team from 2017 to 2022, founded the AI education company Eureka Labs in 2024, and joined Anthropic in 2026 to work on pre-training research; at Stanford he designed and taught the university’s first deep learning course, CS231n, and he coined the term “vibe coding.”Open the full entry, Geoffrey HintonGeoffrey HintonMachine learning researcher.Open the full entry, Fei-Fei LiFei-Fei LiFei-Fei Li is an American computer scientist, a professor of computer science at Stanford University and founding co-director of the Stanford Institute for Human-Centered Artificial Intelligence, and the co-founder and CEO of the spatial intelligence company World Labs. She led the creation of ImageNet and has served as a vice president at Google and chief scientist of Google Cloud, as well as an independent director of Twitter. Since 2026, she has served as senior advisor on artificial intelligence to Stanford’s president and co-chair of the HAI advisory council.Open the full entry, Arthur MenschArthur MenschArthur Mensch is a machine learning researcher and the co-founder and chief executive officer of Mistral AI; he graduated from École Polytechnique and Télécom Paris and holds a PhD from Université Paris-Saclay. He did postdoctoral research at École Normale Supérieure and then joined DeepMind, where he worked on language model research including Chinchilla. In 2023, he co-founded Mistral AI with Guillaume Lample and Timothée Lacroix, and he is responsible for the company’s strategy, product, and sales.Open the full entry and Scott WuScott WuScott Wu is an entrepreneur with a background in competitive programming and the co-founder and CEO of Cognition, the artificial intelligence software engineering company that developed the AI coding agent Devin.Open the full entry, and the cap table also included Stanley Druckenmiller and Peter Thiel. Etched had by then raised $800 million in total.⁠[14]

Chips Manufactured and $1 Billion in Orders

On June 30, 2026, Etched issued a progress report: TSMC had successfully manufactured its chip earlier that year, the company had booked $1 billion in contract orders for full systems, and customers were testing its first product. The company calls the product “frontier inference clusters,” bundling the chips with custom racks and software; Etched claims that the product runs faster, more cheaply and with better power efficiency than rivals.⁠[14]

$300 Million Series C at a $10.3 Billion Valuation

On July 23, 2026, Etched announced a $300 million Series C at a $10.3 billion valuation, led by Sequoia CapitalSequoia CapitalSequoia Capital is a venture capital firm founded by Don Valentine in 1972, investing from the seed stage through the growth stage. Its historical investments include Apple, Cisco, Google, YouTube, Airbnb, and Stripe; in 2021 it introduced the Sequoia Capital Fund structure, which can continue to hold public securities, and in 2023 its regional businesses became independent brands and partnerships.Open the full entry with Andreessen HorowitzAndreessen HorowitzAndreessen Horowitz (a16z) is a venture capital firm founded in 2009 by Marc Andreessen and Ben Horowitz. It invests from the seed stage through the growth stage and provides operational support to its portfolio companies.Open the full entry, SK hynixSK hynixSK hynix is a South Korean memory semiconductor company headquartered in Icheon, Gyeonggi Province, that makes DRAM, high-bandwidth memory (HBM) and NAND flash; its shares trade on the Korea Exchange. It began in 1983 as Hyundai Electronics, was later renamed Hynix Semiconductor and joined SK Group in 2012. In the third quarter of 2026 its quarterly revenue exceeded 100 trillion won for the first time.Open the full entry, Jane Street and Diffusion Capital; TechCrunch writes that its valuation had doubled in about seven months, that 400 people worked in its office, and that it had a 2-megawatt data center at its main San Jose office and a new 80,000-square-foot, 10-megawatt facility in Milpitas, and that its chips include a prefill chip built for “low-voltage inference” and a decode-stage memory and interconnect called “cluster-scale memory.”⁠[16]

Primary wrote in a post the same day that it has invested in every round of Etched; the post states that in under four years Etched had assembled hundreds of engineers, designed a new chip and system, secured its supply chain and completed a successful A0 tapeout, calls it “the first company with working silicon born after the ChatGPT moment,” and states that production was underway, with the first racks expected to ship that summer against more than $1 billion in customer contracts. Sequoia Capital’s founder page presents him as co-founder and CEO of Etched, which it says builds inference clusters for running advanced AI models, and lists 2026 as the year Sequoia partnered with Etched, with Sonya HuangSonya HuangSonya Huang is a venture capitalist and a partner on Sequoia Capital’s growth team who has co-authored several Sequoia essays on generative artificial intelligence with Pat Grady.Open the full entry and Abhishek Malani as the partners.⁠[18][19]

First Rack Delivered to Jane Street and $700 Million at a $21 Billion Valuation

On August 18, 2026, Etched announced that it had raised another $700 million, more than doubling its valuation to $21 billion, in a round led by Jane Street with Kleiner Perkins, Sequoia Capital, Andreessen Horowitz, Tiger Global Management, Bain Capital Ventures and others. SiliconANGLE writes that after its first prototype chip came off a TSMC production line earlier that year, Etched signed Jane Street as its first customer, and that Jane Street had installed an Etched-powered rack in its data center the previous month. He said, “It took us three years to deliver our first rack from scratch,” and “Our next one will be much faster.”⁠[15]

SiliconANGLE writes that Etched began by designing chips optimized for specific AI models and later pivoted to inference accelerators that support a variety of model architectures; the company says the math blocks of its chips run at under half the voltage of most AI accelerators. VnExpress International wrote in September 2026 that the three founders were all 24, that Etched had more than 400 employees, about 15% of whom had previously worked at NVIDIA, and that the company said it had got the test chips from TSMC running AI workloads in 44 days, against six months or longer typically. Sonya Huang, a general partner at Sequoia Capital, said to The Wall Street JournalThe Wall Street JournalThe Wall Street Journal is a U.S. news publication founded in 1889, with a focus on business, finance and economics. It is published by Dow Jones, part of News Corp.Open the full entry that the prevailing wisdom among technology investors had been “don’t back the kids in chips.”⁠[15][6]

Views on Transformer-Specific Chips and AI

He said on the Pioneers of AI podcast that writing code for microcontrollers showed him that only “a very tiny part” of each chip is used for doing the math, with most of the work spent moving data; on the NVIDIA H100, he said, only around 3 percent of the chip is spent on matrix multiplication blocks. He compared transformers to x86, where software written for it brought more adoption, which in turn brought more software, and said, “We are not going to beat NVIDIA at almost everything they do. But at one, Transformers, we will dominate.” He said Etched’s chip is by design able to run only transformers, which frees die area for more compute.⁠[2]

He claimed on the show that Sohu reaches 500,000 tokens per second on a Llama 70B-class model, compared with roughly 30,000 tokens per second for an NVIDIA system of eight H100s, and said, “Etched does not sell chips. Etched sells solutions,” meaning complete systems of boards, servers and racks. He said that a lot of the Series A money was going not to R&D but to building the products, through a much larger than normal risk production run, with the goal of “generating revenue. Serious revenue”; he named Two Sigma as one of its strategic investors, said that the company had gained a lot of traction with trading firms, and said that customers are under non-disclosure agreements.⁠[2]

He holds that the public underrates current models: “The biggest misconception is that the current chatbots suck.” He expects human-level models and said that specialized chips could cut costs “by an order of magnitude.” Asked whether NVIDIA would build a transformer chip too, he said, “Eventually, they will,” but argued that Etched’s head start and the long lead times of hardware give it an edge.⁠[2]

Related Organizations, Websites, and Public Accounts

Thiel Fellowship: Official website: https://thielfellowship.org/ (opens in a new window).⁠[21]

Sources

  1. Thiel Foundation Announces Next Thiel Fellow Class (opens in a new window)
  2. Etched is ready to disrupt the AI chip market (opens in a new window)
  3. The future of AI chips (with Etched’s Gavin Uberti) | Pioneers of AI (opens in a new window)
  4. Gavin Uberti (opens in a new window)
  5. Gavin Uberti (opens in a new window)
  6. How three Harvard dropouts built a $21B AI chip challenger to Nvidia (opens in a new window)
  7. Harvard dropouts raise $120 million to take on Nvidia’s AI chips (opens in a new window)
  8. Building Usable Witness Encryption (opens in a new window)
  9. guberti/witness-encryption-demos (opens in a new window)
  10. Harvard Dropouts Raise $5M for LLM Accelerator (opens in a new window)
  11. Etched is building an AI chip that only runs one type of model (opens in a new window)
  12. Gavin Uberti (opens in a new window)
  13. Etched founder Gavin Uberti thinks his company stands on the ‘shoulders of giants’ (opens in a new window)
  14. Nvidia competitor Etched hits $5B valuation, $1B in sales for AI chip (opens in a new window)
  15. Inference chip startup Etched raises $700M more at $21B valuation (opens in a new window)
  16. AI chip startup Etched defies skeptics, hits $10.3B valuation from big-name investors (opens in a new window)
  17. Etched’s Series A to revolutionize AI hardware (opens in a new window)
  18. Announcing Etched’s Series C, led by Sequoia at $10.3B (opens in a new window)
  19. Gavin Uberti (opens in a new window)
  20. guberti (Gavin Uberti) (opens in a new window)
  21. Thiel Fellowship (opens in a new window)