Takeaways by Saasverse AI
- PsiQuantum | Series E | $1 Billion | Fault-Tolerant Quantum Computing.
- Led by BlackRock, with participation from Temasek, Baillie Gifford, NVentures, and others.
- Aims to deliver a million-qubit fault-tolerant quantum computer by 2028, leveraging photon-based qubits and semiconductor manufacturing.
PsiQuantum has raised a monumental $1 billion in its Series E funding round, bringing its valuation to an impressive $7 billion. The round was led by BlackRock, with contributions from Temasek, Baillie Gifford, and new investors such as Macquarie Capital, Ribbit Capital, Nvidia’s NVentures, and Adage Capital Management. The funding will accelerate PsiQuantum’s ambitious plan to build the world’s first commercial-grade, fault-tolerant quantum computer with a million qubits by 2028, with key facilities planned in Brisbane and Chicago.
PsiQuantum’s approach to quantum computing is groundbreaking, utilizing photon-based qubits and semiconductor manufacturing processes to develop scalable, fault-tolerant systems. The company has already achieved significant milestones, including the large-scale production of integrated photonic chipsets at GlobalFoundries’ Fab 8 facility in New York. In a critical innovation, PsiQuantum has successfully integrated barium titanate (BTO), a high-performance electro-optic material, into its manufacturing processes, boosting the scalability potential of its optical quantum systems.
The company’s technological advancements extend beyond hardware. PsiQuantum is collaborating with Nvidia to co-develop quantum algorithms and software while integrating GPUs with quantum computing chips. This partnership aims to bridge classical and quantum computing, addressing the hybrid computing needs of future applications. The company has also developed an innovative high-density cooling solution capable of cooling hundreds of chips within modular data center racks, eliminating the reliance on traditional "chandelier-style" dilution refrigerators commonly used in quantum systems.
“ PsiQuantum’s pursuit of a million-qubit fault-tolerant quantum computer represents a pivotal moment in the quantum computing industry. Its photon-based qubit design, combined with semiconductor fabrication, offers a scalable and practical path toward overcoming the limitations of traditional quantum computing architectures. The involvement of industry heavyweights like Nvidia, alongside the robust financial backing from global investors, underscores the market’s confidence in PsiQuantum’s vision and execution capabilities. ” Saasverse Analyst comments
Saasverse Insights
This funding round signifies a seismic shift in the quantum computing landscape, with PsiQuantum leading the charge toward commercial-grade, fault-tolerant systems. The integration of photonics with semiconductor manufacturing not only accelerates scalability but also positions PsiQuantum as a frontrunner in addressing real-world computational challenges in areas such as cryptography, materials science, and AI. As the timeline to 2028 unfolds, the broader industry will likely see increased collaboration across hardware, software, and cloud ecosystems, driven by the need for hybrid quantum-classical solutions.
PsiQuantum’s innovations in cooling and modular data center integration could serve as a blueprint for the future of quantum infrastructure, reducing operational barriers and enabling more accessible deployment. This round not only validates the company’s vision but also sets the stage for a competitive race toward practical quantum computing at scale. The stakes—and opportunities—have never been higher.