Founded in London by James Dacombe in 2024, Olix develops the X-1 platform that distributes AI model workloads across specialised chips connected by an optical interconnect. Its first chip, the DX-1, is a decode accelerator that the company claims can deliver over 10,000 tokens per second per user on 100-billion-parameter models while using less power for large batches, and is designed to scale to models with trillions of parameters. Olix has over 140 employees across London, Bristol, Toronto, Austin and San Francisco. The company plans to launch DX-1 to initial customers in the second half of 2027 and to ramp platform development and chip manufacturing with the new funding. Olix has rapidly increased its valuation through multiple funding rounds, most recently reaching $3.3 billion after the $312 million raise, up from just over $1 billion in February. The AI chip market in which Olix competes was valued at about $84 billion in 2026 and is expected to grow rapidly through 2030.

Total raised

$532M

Funding rounds

3

Latest round

Series B

Latest activity

Aug 2026