Quantum computing startup PsiQuantum is reportedly closing in on a massive $750 million funding round, led by investment giant BlackRock. According to sources familiar with the deal, the round could value the company at a staggering $6 billion pre-money, signaling strong investor confidence in the growing quantum computing sector. The fundraising process is still underway, Reuters reported.
This latest capital injection comes as major tech companies like Google, Microsoft, Amazon, and Nvidia intensify their quantum ambitions. Nvidia recently announced plans to establish a new quantum research center in Boston, reflecting the increasing momentum within the industry.
PsiQuantum’s Photonic Approach Sets It Apart in the Quantum Computing Race
While most quantum startups are experimenting with exotic materials and new approaches, PsiQuantum is betting big on photonics-based chipmaking—the same proven technology that powers global fiber-optic communication networks. This unique strategy allows the company to leverage the existing semiconductor manufacturing ecosystem instead of reinventing the wheel.
Production of PsiQuantum’s quantum chips is already underway at GlobalFoundries’ facility in New York, using mature semiconductor fabrication processes. Their ambitious long-term plan? To scale production to millions of quantum chips—an effort that demands deep pockets and long-term capital commitments.
Quantum Computing’s Multi-Billion Dollar Promise for Industries
Quantum computing is widely hailed as a breakthrough technology capable of solving problems that classical computers can’t handle. Unlike traditional bits that toggle between zero and one, quantum processors use qubits, which can exist in multiple states simultaneously. This capability could unlock major advancements in materials science, cryptography, energy, and complex simulations.
The potential to simulate atomic-level interactions, model new drug molecules, or design next-generation batteries is fueling a fierce competition between startups and tech giants alike. For industries ranging from pharmaceuticals to renewable energy, quantum computing could be a total game-changer.
Scaling Quantum Machines Comes with High Costs and Big Bets
However, building a scalable quantum computer is no easy feat. Manufacturing quantum chips at volume remains one of the sector’s biggest challenges, with cost being a major hurdle. One source close to the deal highlighted that producing millions of quantum processors requires vast capital resources—a key driver behind PsiQuantum’s massive funding round.
Despite decades of research, quantum machines have struggled with high error rates, limiting their practical applications. But the tide is turning as companies improve chip quality and error correction techniques. PsiQuantum believes it’s on track to deliver a commercially viable quantum computer by 2029—or potentially sooner.
PsiQuantum Expands Global Partnerships to Accelerate Quantum Development
PsiQuantum isn’t just focused on private sector breakthroughs. The company is actively collaborating with governments to push the quantum frontier. It has inked deals with the U.S. and Australian governments to build two advanced quantum computers—one located in Brisbane and another in Chicago.
These public-private collaborations aim to accelerate the development of useful quantum machines capable of performing real-world tasks. Meanwhile, Google projects that functional quantum applications could become reality within the next five years, adding urgency to the quantum race.
