PsiQuantum has raised US$1 billion to build the world’s first commercially useful, fault-tolerant quantum computers. Moreover, the company announce collaborations, including that of NVIDIA, to propel its quantum computing development. 

Led by funds and accounts managed by affiliates of BlackRock, along with Temasek and Baillie Gifford, the fundraising values the company at UA$7 billion and brings in new investors.

Potential in AI Supercomputers

The said funding for its Series E round will equip the company to break ground on utility-scale quantum computing sites in Brisbane, Australia and Chicago, Illinois. At the same time, it will enable PsiQuantum to deploy large-scale prototype systems to validate systems architecture and integration and further advance the performance of its quantum photonic chips and fault-tolerant architecture.

PsiQuantum was founded in 2016 and is headquartered in Palo Alto, California. The company’s mission is to build and deploy the world’s first useful quantum computers. PsiQuantum’s photonic approach enables it to leverage high-volume semiconductor manufacturing, existing cryogenic infrastructure, and architectural flexibility to rapidly scale its systems.

Critically, PsiQuantum has integrated Barium Titanate (BTO) into its manufacturing flow. BTO is one of the world’s highest-performing electro-optic materials, which makes it ideally suited for ultra-high-performance optical switches; the missing component for scaling optical quantum computing. PsiQuantum manufactures 300mm wafers of BTO at its facilities in California, which are then integrated together with wafers manufactured at GlobalFoundries.

“Only building the real thing—million-qubit scale, fault-tolerant machines—will unlock the promise of quantum computing,” said Prof. Jeremy O’Brien, PsiQuantum co-founder and Chief Executive Officer. “We defined what it takes from day one: this is a grand engineering challenge, not a science experiment. We tackled the hardest problems first—at the architectural and chip level—and are now mass-manufacturing best-in-class quantum photonic chips at a leading U.S. semiconductor fab. With this funding, we’re ready to take the next decisive steps to deliver the full potential of quantum computing.”

Partnership With NVIDIA

This new funding will enable PsiQuantum to further scale up BTO production towards the volumes needed for utility-scale quantum computing. The BTO-enabled optical switch also has potential in next-generation AI supercomputers. This has been an area of interest given rapidly-growing AI workloads, where low-power, high-speed optical networking is increasingly relevant.

PsiQuantum is collaborating with NVIDIA across a broad range of development areas, including quantum algorithms and software, GPU-QPU integration and PsiQuantum’s silicon photonics platform.

In addition to the photonic chips which generate, manipulate and measure qubits, PsiQuantum also develops the cooling, networking, and control systems for utility-scale machines.

12 September 2025