PsiQuantum raises $1B Series E at a $7B valuation

PsiQuantum/Utility-scale photonic quantum computer

PsiQuantum raised $1 billion in Series E led by BlackRock, Temasek and Baillie Gifford, valuing it at $7 billion, and announced a collaboration with NVIDIA. The money supports breaking ground on utility-scale sites in Brisbane and Chicago and building large prototype systems.

• Investors include NVentures, Macquarie Capital, Ribbit Capital, Adage Capital, Qatar Investment Authority and others.
• Funding for utility-scale site groundbreaking in Brisbane and Chicago and large-scale prototype deployment.
• NVIDIA partnership deepens joint work on fault-tolerant quantum-classical integration.