AsianFin -- Quantum computing startup PsiQuantum is securing at least $750 million in funding at a pre-money valuation of $6 billion, according to Reuters, citing two sources familiar with the deal.
BlackRock is leading the fundraising effort, though the process is not yet finalized, one source said.
Unlike some quantum startups that rely on exotic materials, PsiQuantum adapts traditional semiconductor manufacturing techniques. The company utilizes existing photonics technology—the same chipmaking process used in fiber-optic communications—at a GlobalFoundries facility in New York, with plans to produce millions of quantum chips.
Scaling up quantum computing production is a complex and expensive endeavor, requiring substantial investment, one source noted.
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