Olix raises $312M at $3.3B valuation, tripling value to rival Nvidia

London-based AI chip startup Olix raised $312 million in a Series B funding round.

The investment values the company at $3.3 billion. New York-based Fundomo led the round. Participants included chip designer Arm, Hudson River Trading, and Netflix co-founder Reed Hastings.

This capital triples Olix’s valuation from its $1 billion level in February. The company previously raised $220 million earlier this year.

Founded in 2024, Olix develops specialized chips for AI inference workloads. Its technology utilizes optical interconnects to increase efficiency and lower costs.

Olix aims to use the funding to compete directly with Nvidia. The company also appointed former Wise executive Matt Briers as Chief Financial Officer.