Insights
- PsiQuantum raised $1 billion in Series E funding, valuing the company at $7 billion.
- The company aims to build million-qubit, fault-tolerant quantum computers using photonic technology.
- PsiQuantum leverages high-volume semiconductor manufacturing and integrated Barium Titanate (BTO) electro-optic switches.
- New funding supports scaling production, building utility-scale quantum sites in Brisbane and Chicago, and advancing cooling and networking systems.
- Strategic partnerships include NVIDIA and major investors like BlackRock, Temasek, and Baillie Gifford.
PsiQuantum has announced a monumental $1 billion Series E funding round, backed by leading investors such as BlackRock, Temasek, and Baillie Gifford, pushing its valuation to $7 billion. This capital will accelerate the company’s development of commercially viable, fault-tolerant quantum computers at a million-qubit scale, a significant engineering challenge the company is uniquely positioned to solve by leveraging photonic quantum technology and mass semiconductor manufacturing.
Central to PsiQuantum’s approach is the integration of Barium Titanate (BTO), a powerful electro-optic material enabling ultra-high-performance optical switches critical for scaling quantum systems. The company manufactures these photonic chips at GlobalFoundries’ Fab 8 facility and produces BTO wafers in its California labs. Their cooling solutions and networking techniques aim to overcome traditional quantum computing barriers, avoiding bulky cryostats and enabling scalable, data-center-like architectures.
With partnerships including NVIDIA, PsiQuantum is not only advancing hardware but also exploring software integration and quantum algorithms. The new funding will support building utility-scale quantum computing sites in Brisbane and Chicago and scaling production to meet anticipated commercial demand. Industry leaders see PsiQuantum’s efforts as positioning it at the forefront of a quantum revolution poised to transform computing beyond AI’s current capabilities.