UK chip startup Olix raises $312M at $3.3BN valuation
One of the UK's hottest chip startups has raised over $300m at a $3. 3bn valuation, tripling its valuation, and plans to bring its first products to customers next year, it says. Olix is gearing to bring its first products to customers next year.
Key Takeaways
- Artificial Intelligence UK chip startup Olix raises $312M at $3.
3BN valuation Olix is gearing to bring its first products to customers next year.
- Olix also announced two appointments: former Wise CFO Matt Briers, who took Wise public, has joined as CFO and Nick McKeown, a high-profile figure in the chip world who is a computer science professor at Stanford and former Intel executive, has joined its board of directors.
Chip designer Olix is developing an optical digital processor with a "novel memory and interconnect architecture" that is compatible with current AI models and supports AI inference workloads.
- Producing a single token takes hundreds of operations, each placing different demands on hardware.
Any other factory would give each stage a machine built for it.
- " According to the FT, Olix is in the final stages of designing and testing its chips and expects to deliver its first products to customers next year.
It also reported that it plans to sell its chips as part of a server rack that also includes software and networking equipment.
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Stats & Key Facts
- #One of the UK's hottest chip startups has raised over $300m at a $3.
- #John Reynolds 1 hour ago Share Share Send email Copy link One of the UK's hottest chip startups has raised over $300m at a $3.
- #Olix , founded by 25-year-old entrepreneur James Dacombe, has raised a $312m Series B round, two years after it was founded.
- #3bn valuation marks more than a tripling of its just over $1bn valuation when it raised $220m in February this year.
Olix is gearing to bring its first products to customers next year. Artificial Intelligence UK chip startup Olix raises $312M at $3. 3BN valuation Olix is gearing to bring its first products to customers next year.
John Reynolds 1 hour ago Share Share Send email Copy link One of the UK's hottest chip startups has raised over $300m at a $3. 3bn valuation, tripling its valuation, and plans to bring its first products to customers next year, it says. Olix , founded by 25-year-old entrepreneur James Dacombe, has raised a $312m Series B round, two years after it was founded.
3bn valuation marks more than a tripling of its just over $1bn valuation when it raised $220m in February this year. The round was led by New York VC Fundomo, with participation from chip giant Arm and quant trading firm Hudson River Trading, alongside angel investors including Reed Hastings, the co-founder of Netflix, with existing investors, which include the UK government's Sovereign AI fund, all increasing their commitments, Olix said. Olix also announced two appointments: former Wise CFO Matt Briers, who took Wise public, has joined as CFO and Nick McKeown, a high-profile figure in the chip world who is a computer science professor at Stanford and former Intel executive, has joined its board of directors.
For more details please read the original article at Tech.eu.
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