The Uncommon Group

Backing the inevitable

[Jake @uncommonjake]

Sunlight on demand, anywhere on Earth.

If anyone is going to make it happen, it’s @bennbuilds. A decade ago, I was watching him build fusion reactors in his garage. Today, we’re honored to get to back him and the team at @reflectorbital.

Excited for the world to experience what they’ve been building. Just the beginning!

[Jake @uncommonjake]

And here we go! Coming to a city near you

[Jake @uncommonjake]

Could not be more grateful to be an investor in Etched.

I first came across Etched while listening to “The Next 100x,” a 2023 Stanford MLSys lecture by Gavin Uberti. I remember being blown away by Gavin—by the clarity with which he saw where the world was heading, what needed to be built, and how Etched was going to build it.

Before Etched emerged from stealth, we made it our fund’s largest investment to date.

Just one month ago, Etched announced its Series C at a $10.3 billion valuation. Today, it announced another $700m round at a $21b valuation.

But the real news is neither the round nor the new valuation. It is that Etched now officially has its first rack running in Jane Street’s data center, making it the first new chip company since ChatGPT’s release to put a brand-new chip in a customer’s hands.

Inference will become one of the largest markets in the world, and Etched is only just getting started.

As a longtime X user—but a first-time poster—I feel comfortable saying this will age well.

Huge congratulations to Gavin, Robert, Chris, and the entire Etched team. Deeply grateful to be along for the journey.