The UK Government’s Sovereign AI venture fund has invested in OLIX, a London-based startup developing next-generation AI chips, as part of a nine-figure fundraise. OLIX, valued at over $1 billion and one of the UK’s newest unicorns, is creating faster, cheaper, and more energy-efficient AI chips by designing specialized ‘inference chips’ tailored for AI models. The investment underscores the UK’s strategy to bolster domestic AI capabilities and capture a share of the projected $1 trillion global AI chips market by the early 2030s. AI Minister Kanishka Narayan emphasized the importance of building foundational technologies to ensure the UK leads in AI innovation. OLIX, founded in 2024, is the fifth company backed by Sovereign AI since its launch, with the fund supporting 11 startups in total. The investment aims to create high-skilled jobs and strengthen Britain’s position in AI infrastructure.
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Summary adapted from content licensed under the Open Government Licence v3.0.
For details, see https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/.
Original source: https://www.gov.uk/
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