What’s New Today: AI chip startup Etched has raised $700 million at a $21 billion valuation. Indian babycare startup Peeko has secured Rs. 67.4 crore in Series A funding. China’s youth unemployment rate has climbed to 17.9%, while technology and crypto leaders are backing US President Donald Trump’s push for clearer digital-asset rules. Meanwhile, multilingual AI could help bring millions of new users online by reducing language barriers.
Fast-Track Insights
Etched raises $700 million at a $21 billion valuation.
Peeko secures Rs. 67.4 crore in Series A funding.
China youth unemployment rises to 17.9%.
Tech leaders back Trump’s crypto push.
Multilingual AI could expand internet access.
AI chip startup Etched has raised $700 million at a $21 billion valuation, more than doubling its previous $10.3 billion valuation. The company develops specialised hardware for AI inference and aims to challenge conventional GPUs as demand for AI computing grows. Jane Street led the funding round and has begun deploying Etched’s hardware.
Babycare commerce startup Peeko has raised Rs. 67.4 crore in Series A funding led by Chiratae Ventures. Stellaris Venture Partners and angel investors also participated. The company plans to expand its delivery network, technology and workforce, with a focus on increasing its 60-minute delivery coverage across Bengaluru.
China’s youth unemployment rate rose to 17.9% in July as 12.7 million graduates entered a competitive job market. A slowing economy, cautious hiring and increasing automation are putting pressure on entry-level employment.
Executives from Coinbase, Robinhood, Kraken, Gemini and other firms are supporting Trump’s push for clearer cryptocurrency regulations. Industry leaders have called for progress on the CLARITY Act, which seeks to define regulatory responsibilities for digital assets.
Multilingual AI could expand internet access by improving translation, speech recognition and local-language digital services. The technology could be particularly significant in India, where language diversity remains a major barrier to digital adoption.