Olix raises $312M at $3.3B valuation from Netflix's Reed Hastings, Arm, to build Nvidia rival — TFN
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Olix raises $312M at $3.3B valuation from Netflix’s Reed Hastings, Arm, to build Nvidia rival<br>bySofia Chesnokova<br>August 3, 2026<br>3 minute read
Image credits: LinkedIn of James Dacombe
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Olix has raised $312 million in new funding, bringing its valuation to $3.3 billion. This is a significant jump from just over $1 billion in February.
Networking expert Nick McKeown has joined Olix’s board as the company moves closer to delivering its first customer racks.
Matt Briers, the new CFO and former Wise executive, has joined Olix. Existing investors have also increased their investments.
James Dacombe started Olix in London in 2024 when he was 23. Two years later, the AI chip startup raised $312 million at a $3.3 billion valuation. This is more than triple its valuation from February, which was just over $1 billion.
The funding round was led by Fundomo, an investment firm from New York. Arm, Hudson River Trading, and Netflix co-founder Reed Hastings, who invested as an angel, also took part.
Existing investors Hummingbird Ventures, Crane, Plural, Creandum, Phoenix Court, and Transition increased their investments, according to Olix. Tech Funding News reported on Olix’s $220 million round in February, when the company first passed the $1 billion mark.
A new board member and CFO
Along with the fundraise, Olix has named Nick McKeown to its board. McKeown helped create...