Source Foundry’s $400M Check: Sequoia’s Lithography Bet Meets Hedge-Fund Capital
Situational Awareness put another $400M into Sequoia-backed Source Foundry (~$5B valuation) — a stealth ASML-challenger attack on the AI chip manufacturing wall.
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Situational Awareness put another $400M into Sequoia-backed Source Foundry (~$5B valuation) — a stealth ASML-challenger attack on the AI chip manufacturing wall.
Sequoia led Valar Atomics' $1B Series B at a reported $6B valuation, plus a $200M credit facility — funding the shift from microreactor demo to vertically integrated manufacturing for AI and industrial load.
Sequoia led Etched's $300M Series C at $10.3B — valuation doubled in seven months as custom prefill/decode chips book $1B in orders and enter customer testing. Superseded: August 18, 2026 $700M at $21B.
Index Ventures led Chai Discovery's $400M Series C at $3.8B as Eli Lilly, Novartis, and Pfizer put AI-designed molecules into real discovery pipelines.