STORY
The Government’s Sovereign AI programme has invested in British technology company OLIX as part of a nine-figure funding round intended to develop a new generation of artificial intelligence chips. The London and Bristol based company is working on processors designed to make AI inference faster, cheaper and more energy efficient.
OLIX was founded in 2024 by James Dacombe and has secured $220 million through its Series A funding round. The Government said the investment would support the development of domestic computing capability and create highly skilled jobs while reducing reliance on technology produced overseas.
The investment is the fifth equity commitment made through Sovereign AI since the programme was launched. Eleven companies have now received support through its wider funding activity, with ministers describing semiconductor design and advanced computing as central to the United Kingdom’s future AI infrastructure.