PsiQuantum Hits $7B Valuation, Secures $1B Funding and Partners with Nvidia

Quantum computing startup PsiQuantum announced Wednesday it has raised $1 billion in a Series E funding round, boosting its valuation to $7 billion, while also unveiling a collaboration with Nvidia to accelerate its quantum computing development.

Funding Details

• Round size: $1 billion (Series E)

• Valuation: $7 billion

• Lead investors: BlackRock, Temasek, Baillie Gifford

• New investors: Nvidia’s NVentures, Macquarie Capital, Ribbit Capital

Expansion Plans

The funding will support:

• New sites in Brisbane, Australia and Chicago, Illinois

• Deployment of large test systems to validate PsiQuantum’s design

Technology Edge

• Photonic approach: Uses light particles on silicon chips

• Built on semiconductor manufacturing and fiber-optic networking for scalability

• Goal: Build the first million-qubit, fault-tolerant quantum computer

Nvidia Collaboration

• Nvidia chips will help connect classical and quantum machines

• Integration to improve PsiQuantum’s silicon-photonics quantum chips

• Aimed at advancing software and hardware ecosystems for practical quantum applications

Applications of Quantum Computing

• Drug discovery

• Materials science

• Cybersecurity breakthroughs

• Potential to solve problems beyond the reach of AI and today’s supercomputers

Partnerships & Manufacturing

• PsiQuantum has partnered with GlobalFoundries to fabricate its chips at the foundry’s New York facility.

Outlook

With Nvidia’s backing and $1B in fresh capital, PsiQuantum is positioning itself as a frontrunner in the global quantum race, moving closer to proving its designs and delivering scalable, commercial quantum computers.