The brief
- Raised a $1B Series E at a $7B valuation in September 2025, led by BlackRock, Temasek and Baillie Gifford.
- Omega chips (Feb 2025, Nature): 99.98% single-qubit and 99.22% two-qubit fusion fidelity.
- Brisbane project, backed by about A$940M from Australian governments, is behind schedule and moved site.
Technical approach
Qubits made of light
Each qubit is one photon in channels on a silicon chip. Photons hold their state well and travel over normal fibre.
Fusion-based computing
Small groups of linked photons are made nonstop and joined by 'fusion' measurements. The fusion pattern runs the program.
Built in a commercial fab
Chips are made on 300 mm wafers at GlobalFoundries, including light detectors and fast optical switches.
Kelvin, not millikelvin
Detectors need a few kelvin, reached with large industrial coolers rather than the extreme fridges superconducting chips use.
PsiQuantum, one program
Updated 1 Jan 2026
Research & demos
- Feb 2025paperA manufacturable platform for photonic quantum computing (opens nature.com)Utility-scale photonic quantum computer
Nature paper benchmarking Omega components built in a commercial fab.
- Nov 2022paperActive volume: an architecture for efficient fault-tolerant quantum computers with limited non-local connections (opens arxiv.org)Utility-scale photonic quantum computer
Showed how long-range photon links can cut the cost of error-corrected programs.
- Jan 2021
Defined PsiQuantum's design: build the computer from small photon groups joined by measurements.
Open technical problems
- Photon lossActive research
Every channel, switch and fibre loses some light. Error correction needs total loss per photon of a few percent or less.
- Fast, low-loss switchingActive research
Photon sources work by chance, so fast, near-lossless switches must route the good ones. PsiQuantum uses barium titanate switches.
- Scale of infrastructureOpen
A useful machine is data-center sized, with thousands of chips. Building and cooling it are major projects in themselves.
Upcoming catalysts
- Dec2027Brisbane utility-scale machine targetUtility-scale photonic quantum computerby ~15 mo
Peers
Company & funding
- Valuation
- $7Bprivate
- Raised
- $1.4Bdisclosed private rounds
- Last round
- Series ESep 2025
- HQ
- US
- Founded
- 2016
Post-money valuation, log scale
| Date | Round | Amount | Post-money | Lead |
|---|---|---|---|---|
| Sep 2025 | Series E | $1B | $7B | BlackRock, Temasek, Baillie Gifford |
| Apr 2024 | Government investment (AU, QLD) | $620M | — | Australian Government, Queensland Government |
| Jul 2021 | Series D | $450M | $3.1B | BlackRock |
Partners & customers
- Supplier
Manufactures PsiQuantum chips in Malta, New York.
- Investor
NVentures invested in the Series E; GPU-accelerated control and simulation.
- Partner
Anchor tenant of the Illinois Quantum and Microelectronics Park in Chicago.
- Customer
Participant in US2QC and the Quantum Benchmarking Initiative.
- Supplier
Building cryogenic plants for PsiQuantum sites.
People
- Jeremy O'Brien (opens en.wikipedia.org)Co-founder and CEO
- Pete ShadboltCo-founder and Chief Scientific Officer
- Terry Rudolph (opens en.wikipedia.org)Co-founder and Chief Architect