Quantum computing startup PsiQuantum is in the process of raising at least $750 million, pushing its valuation to $6 billion before the investment, according to sources familiar with the deal. The funding round is being led by BlackRock, though it has not yet been finalized.
Unlike many quantum firms that rely on unconventional materials, PsiQuantum is taking a different approach by leveraging established semiconductor manufacturing techniques. The company is utilizing photonics-based technology, similar to what is used in fiber-optic communication, to develop its quantum chips.
PsiQuantum has partnered with GlobalFoundries, operating out of a facility in New York, to mass-produce quantum processors. The startup’s goal is to scale production to millions of chips, potentially accelerating the commercialization of quantum computing.
This strategy could give PsiQuantum a competitive edge in the race to build practical quantum computers, as it integrates quantum technology into existing semiconductor infrastructure. With significant financial backing, PsiQuantum is positioning itself as a leader in the quantum computing space, focusing on scalability and manufacturability. If successful, its efforts could revolutionize industries ranging from cryptography to artificial intelligence and drug discovery.
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