Elisa Hilton

1:00pm - 4:00pm

Email the studio

All Saints

I Know Where It's At

Listen Live

Harrogate entrepreneur's AI company reaches £2.5bn valuation

Tuesday, 4 August 2026 12:52

James Dacombe, 25, is the founder and chief executive of London-based Olix.

A Harrogate-born entrepreneur has seen his artificial intelligence company reach a valuation of around £2.5 billion.

James Dacombe, 25, is the founder and chief executive of London-based Olix, which develops specialist AI chips designed to improve the speed and efficiency of artificial intelligence systems.

Dacombe grew up in Harrogate, attending Ashville College before studying at the St Aidan's and St John Fisher Associated Sixth Form.

Olix has raised $312 million (around £232 million) in Series B funding, tripling the company's valuation to $3.3 billion (around £2.5 billion) in just six months.

The investment round was backed by major names including Arm, Netflix co-founder Reed Hastings, Fundomo and the UK Government's Sovereign AI Fund.

Dacombe founded brain-monitoring technology company CoMind in 2018 before launching Olix in 2024.

Olix is developing specialist AI "inference" chips, designed to run artificial intelligence models more efficiently while reducing costs and easing supply chain pressures. Its first chip platform, known as DX-1, is expected to launch next year.

James told the Financial Times:

"The velocity and culture of delivering when you say you will deliver is really key.

"We are on track to be the fastest company to go from founding to full chip tape out of any company in this space."

The latest investment will allow the company to expand its engineering teams across the UK and North America while accelerating development of its AI hardware.

According to reports, Dacombe remains one of Olix's largest shareholders through his holding company, with his stake now valued at more than $1 billion.

More from Local News

Harrogate College students celebrate success on Level 3 results day

Students at Harrogate College are celebrating their Level 3 results, with learners achieving top marks in a range of technical qualifications.
Five Harrogate district cricketers heading to national final at Lord's

Five young cricketers from the Harrogate district are heading to Lord’s after helping MCC Foundation York Hub reach a national final.
Slingsby's gooseberry gin back by popular demand

Slingsby Gooseberry Gin has returned to the Harrogate brand's collection following months of requests from customers.
Final cookery line-up confirmed for Harrogate Food and Drink Festival

The final line-up of chefs and culinary experts has been announced for this year's Harrogate Food and Drink Festival.
New independent bookshop set to open on Parliament Street

A new independent bookshop is set to open in Harrogate town centre this autumn.
Ripon racegoers warned of delays as 10,000 expected at Great St Wilfrid meeting

Racegoers heading to Ripon Racecourse this weekend are being advised to allow extra time for their journey due to traffic restrictions on Boroughbridge Road.
Main section of A59 Kex Gill route set to open 'within weeks'

The main section of the new A59 Kex Gill route between Harrogate and Skipton is set to open within weeks.
Harrogate Ladies' College celebrates best A*-A results in four years

Pupils at Harrogate Ladies’ College are celebrating their best A*-A grade percentage in four years as this year's A Level results are announced.
Ashville pupils heading around the world after A Level success

Pupils at Ashville College in Harrogate are celebrating another strong set of A Level results, with leavers securing places at universities and organisations across the UK and overseas.
Students celebrate A Level success at St Aidan's and St John Fisher

Students at the Associated Sixth Form of St Aidan's and St John Fisher are celebrating another strong set of A Level and vocational results.
Everything you need to know about Symphonic Ibiza this weekend

Thousands are set to descend on the Great Yorkshire Showground this Saturday (15th August) as Symphonic Ibiza arrives in Harrogate.
Eight Ripon Grammar students achieve four A*s or more

Students at Ripon Grammar School are celebrating a stellar set of A-level results, with eight achieving four A* grades or more.
Harrogate Grammar celebrates strong A-level results

Students at Harrogate Grammar School are celebrating another year of strong A-level results.
Ripon pupil overcomes anxiety to pursue Paris dream

A Ripon Grammar School student who once struggled to walk into exam rooms because of anxiety is preparing to pursue her dream of studying in Paris.
More details revealed about Harrogate's Christmas ice rink in Valley Gardens

More details have been revealed about the new covered ice rink coming to Harrogate's Valley Gardens this Christmas.
GALLERY: Hundreds gather at Almscliffe Crag for view of solar eclipse

Hundreds gathered at Almscliffe Crag last night (Wednesday) to watch one of the most spectacular solar eclipses visible from the UK in years.
Ripon Summer FunFest returns for sixth year

Families are being reminded there is still time to book a place at Ripon's annual Summer FunFest, which returns next week.
Extreme heat to cause disruption on Harrogate train line

Rail passengers in Harrogate are being warned to expect disruption as Northern introduces a reduced timetable due to extreme heat.
Firework Championships to light up skies over Ripon next weekend

The skies above Newby Hall will be filled with spectacular displays when its annual Fireworks Championships return later this month.
Harrogate MP calls for Lifeline changes to be put on hold

Local MP Tom Gordon has called for changes to North Yorkshire Council’s Lifeline service to be put on hold until residents have been consulted.