NextFin news, PsiQuantum, a quantum computing startup headquartered in Palo Alto, California, announced on this Wednesday that it has raised $1 billion in its latest funding round, valuing the company at $7 billion. The funding will support the development of a million-qubit, fault-tolerant quantum computer and the construction of large-scale quantum computing sites in Brisbane, Australia, and Chicago, Illinois.
The funding round included investments from Nvidia Corp, Qatar Investment Authority, Macquarie Capital, BlackRock, Baillie Gifford, Temasek, Ribbit Capital, Adage Capital Management, Morgan Stanley, SentinelOne Inc, Third Point Ventures, and T. Rowe Price Associates, among others.
PsiQuantum plans to use the capital to scale up manufacturing of bespoke parts and materials for intermediate-scale quantum systems, improve chip performance, and build the infrastructure necessary for data-center-sized quantum computing facilities. The company has tested key components but has not yet built a complete quantum computer.
In addition to the funding, PsiQuantum announced a collaboration with Nvidia to work on quantum algorithms, software, semiconductor technology, and integration of quantum processors with GPUs in hybrid systems. Nvidia’s venture capital arm, NVentures, participated in the funding round, marking its third investment in quantum computing this month.
PsiQuantum cofounder and chief science officer Pete Shadbolt highlighted the company’s aggressive roadmap to build large-scale quantum systems incrementally rather than in a single leap. Nvidia CEO Jensen Huang has recently expressed optimism about quantum computing reaching an inflection point, contrasting his earlier view that useful quantum computers were two decades away.
The company’s focus on photonics-based quantum computing aligns with industry trends toward integrating photonics to meet the data transmission and energy demands of AI and quantum systems.
The announcement was made on this Wednesday, September 10, 2025, in Palo Alto, California, and reported by multiple sources including Reuters, The Star, Financial Times, and The Quantum Insider.
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