Three AI companies have disclosed $2.075 billion in combined financing, spanning inference hardware, legal software and a startup whose stated goal is more energy-efficient computing. The total comprises $1 billion for Etched, $475 million for Unconventional AI and $600 million for Legora.
Etched develops hardware used to run trained AI models and produce their outputs, a task known as inference. The company announced a $300 million Series C on July 23, with a $10.3 billion valuation, then disclosed another $700 million on Aug. 18 at a $21 billion valuation. Jane Street led the later round. Etched’s July delivery to Jane Street was its first rack, and it had secured customer contracts worth more than $1 billion. Jane Street said, “We tested the chip and are pleased with the early results.”
Unconventional AI disclosed its $475 million seed round on Dec. 8, 2025, alongside a $4.5 billion valuation. Lightspeed and Andreessen Horowitz took the lead-investor roles. Energy-efficient computing is the objective the company has described for its work.
Legora’s $600 million round total combines a $550 million Series D announced March 10 and a $50 million extension on April 30. The earlier financing came with a $5.55 billion valuation; after the extension, the valuation was $5.6 billion. The extension also brought in Atlassian and NVentures.
On April 2, Legora crossed $100 million in annual recurring revenue (ARR), a metric that projects recurring revenue over a year. The milestone came less than 18 months after its general launch, and the company had more than 1,000 customers. By October, the platform had more than 130,000 legal professional users. Legora’s software was used at more than 2,100 law firms and in-house legal teams in more than 80 markets. Its tools support legal research, document review and drafting.
