Olix Triples Valuation to $3.3 Billion After $312 Million Funding Round
Updated
Updated · Forbes · Aug 15
Olix Triples Valuation to $3.3 Billion After $312 Million Funding Round
3 articles · Updated · Forbes · Aug 15
Summary
$312 million in new funding lifted London-based AI chip startup Olix to a $3.3 billion valuation in early August, tripling its worth in six months.
Arm, Fundomo, Hudson River Trading, Reed Hastings and the UK government's Sovereign AI fund joined the round, backing Olix's push to build specialized photonic inference chips.
Founder James Dacombe, 25, owns about 30% of Olix, making him Europe's youngest self-made billionaire; he also retains a 12% stake in brain-monitoring startup CoMind.
Olix aims to ship chips in the second half of 2027, betting customers will want lower-power alternatives to Nvidia-style general AI processors and scarce high-bandwidth memory.
The raise lands in an increasingly crowded AI chip race that includes d-Matrix, MatX, Etched, Fractile and Groq, underscoring a broader startup boom minting ever-younger billionaires.