PsiQuantum Raises $750M to Build the Future of Quantum Computing
In a monumental leap toward building fault-tolerant quantum systems, California-based startup PsiQuantum is reportedly raising at least $750 million in a new funding round led by BlackRock, pushing its pre-money valuation to $6 billion. Founded in 2016 by Jeremy O’Brien, Pete Shadbolt, and Mark Thompson, the company is pioneering the use of photonic qubits—a radically scalable approach that leverages light particles and existing semiconductor infrastructure.
Scaling Quantum with Photonic Qubits
PsiQuantum’s unique edge lies in its use of photonic quantum computing, which relies on particles of light rather than superconducting circuits or trapped ions. This innovation allows PsiQuantum to manufacture its quantum chips using existing semiconductor fabrication techniques—an approach that many believe is key to scaling quantum systems for real-world use.
Manufacturing is already underway at GlobalFoundries, a major U.S. chip fabrication partner. PsiQuantum has begun producing thousands of quantum chip wafers, signaling that their approach is more than theoretical—it’s actively being built at scale.
Omega: A Major Milestone
PsiQuantum recently unveiled Omega, its new photonic chipset designed specifically for large-scale quantum computing. Omega integrates AI to improve quantum algorithm optimization, error correction, and automated system design—addressing critical bottlenecks that have plagued other quantum platforms.
With Omega, the company hopes to achieve fault-tolerant quantum computing by 2029. If successful, PsiQuantum will not only rival top players like Google, Microsoft, and IonQ but potentially leapfrog them by bringing reliable quantum systems into commercial reality.
Global Partnerships and Government Support
PsiQuantum isn’t building this future alone. The company is working closely with both the U.S. and Australian governments to deploy full-scale quantum computers. Two sites have already been selected—Chicago in the United States and Brisbane in Australia—solidifying PsiQuantum’s global ambition.
The move positions PsiQuantum in direct competition with other quantum leaders like IonQ, led by Peter Chapman, as well as Microsoft Quantum’s Krysta Svore and Google Quantum AI. It also aligns PsiQuantum closely with pioneers such as Michelle Simmons of Silicon Quantum Computing and William Hurley of Strangeworks.
Why This Matters
Quantum computing promises to revolutionize industries from pharmaceuticals to finance. But to realize this potential, systems must be scalable, fault-tolerant, and commercially viable. PsiQuantum’s model—using photonic qubits, AI-driven optimization, and conventional chip manufacturing—represents one of the most promising paths forward.
If the company meets its 2029 target, we could be entering an era where quantum advantage is not just theoretical—but a tool every enterprise can access.
Notable Backers & Leaders:
- PsiQuantum: PsiQuantum
- BlackRock: BlackRock
- Founders: Jeremy O’Brien, Pete Shadbolt, Mark Thompson
- Collaborators & Peers:
- Michelle Simmons (Silicon Quantum Computing)
- William Hurley (Strangeworks)
- Krysta Svore (Microsoft Quantum)
- Peter Chapman (IonQ)