Olix Computing, a UK-based startup developing photonic AI chips, closed a $312 million Series B at a $3.3 billion post-money valuation, making it Europe’s most valuable chip company by fundraising metrics. Founded in 2024, the company builds Optical Tensor Processing Units using photonic technology instead of traditional electronic circuits to process AI workloads, eliminating the need for High Bandwidth Memory. The investor roster includes Arm, Netflix cofounder Reed Hastings, and Hudson River Trading, a major algorithmic trading and digital asset markets participant. Olix is targeting initial customer access in the second half of 2027, with the technology remaining pre-revenue and unproven in production environments.
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