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British Start-Up Olix Valued at $4.8 Billion Amid AI Chip Development

WireByte Staff · August 4, 2026

British start-up Olix, founded by 25-year-old entrepreneur James Dacombe, has been valued at £2.5 billion ($4.8 billion) after raising $US312 million from investors. The company aims to compete with Nvidia in the AI chip market with its innovative chip designs using light instead of copper. Olix has tripled its valuation since February and employs over 140 staff across several locations.

Key points

  • Olix, a British start-up founded by James Dacombe, has been valued at £2.5 billion ($4.8 billion) after raising $US312 million from investors.
  • The company aims to compete with Nvidia in the AI chip market with its innovative chip designs using light instead of copper.
  • Olix has tripled its valuation since February and employs over 140 staff across several locations, including London, Bristol, Canada, and the US.
  • The company's chip designs aim to 'unlock a step change in AI performance and cost'.

British Start-Up Olix Valued at $4.8 Billion Amid AI Chip Development

Olix, a British start-up founded by James Dacombe, has been valued at £2.5 billion ($4.8 billion) after raising $US312 million from investors. The company aims to compete with Nvidia in the AI chip market with its innovative chip designs using light instead of copper.

Dacombe, a 25-year-old entrepreneur, started Olix two years ago when he was just 23. He had previously launched his first company, CoMind, a brain-scanning business, at the age of 17. Olix has tripled its valuation since February and employs over 140 staff across several locations, including London, Bristol, Canada, and the US.

The company's chip designs aim to 'unlock a step change in AI performance and cost'. With this development, Olix is poised to make a significant impact in the AI chip market, potentially disrupting the dominance of Nvidia.

As Olix continues to grow and expand its operations, it will be interesting to see how the company's innovative approach to chip design will shape the future of AI technology.

Sources

WireByte Staff — Editorial Team

The WireByte editorial team synthesises technology news from multiple primary sources, verifies the facts, and links every source. Articles are produced with AI assistance and reviewed under our editorial policy.