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PsiQuantum
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Develops commercially useful photonics-based quantum computers
PsiQuantum
Work Here?
Develops commercially useful photonics-based quantum computers
About PsiQuantum
Industries
AI & Machine Learning
Aerospace
Defense
Company Size
201-500
Company Stage
N/A
Total Funding
$1.8B
Headquarters
Palo Alto, California
Founded
2015
Overview
PsiQuantum is developing the world's first commercially useful quantum computer with a photonics-based architecture, leveraging pre-existing manufacturing processes and infrastructure. The company's approach focuses on quantum error correction and solving real-world problems in fields such as medicine, energy, and finance.
Simplify's Take
What believers are saying
- PsiQuantum raised $750M, indicating strong investor confidence and financial backing.
- Expansion into Milpitas, California, supports scaling of quantum computing technology.
- Partnership with Jacobs for Brisbane facility shows commitment to international expansion.
What critics are saying
- Competition from Microsoft's Majorana-1 chip poses a threat to PsiQuantum's approach.
- Reliance on GlobalFoundries for chip manufacturing could pose supply chain risks.
- Ambitious expansion plans may strain financial resources if not managed carefully.
What makes PsiQuantum unique
- PsiQuantum uses photonic qubits, offering scalability and fault tolerance advantages.
- Partnership with GlobalFoundries enhances PsiQuantum's semiconductor manufacturing capabilities.
- PsiQuantum's Omega chipset marks a significant advancement in scalable quantum computing.
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Funding
Total Funding
$1830.7M
Above
Industry Average
Funded Over
7 Rounds
Founders FundBenefits
Company Equity
Stock Options
Growth & Insights and Company News
6 month growth
↓ -1%1 year growth
↑ 0%2 year growth
↓ -3%Elon Musk's xAI acquired the social media platform X, valued at $33 billion. Trulioo appointed Vicky Bindra as CEO, replacing Steve Munford. The U.S. Copyright Office stated AI-created works aren't eligible for copyright. PsiQuantum raised $750 million at a $6 billion valuation, led by BlackRock, to advance photonic quantum computers. MLCommons introduced new AI productivity benchmarks, including one based on Meta's Llama 3.1 model.
PsiQuantum is seeking to raise $750 million in a new equity funding round led by BlackRock, with a pre-money valuation of $6 billion. The company, which has already raised over $600 million, aims to develop a useful quantum computer by 2029. PsiQuantum uses photonic technology and collaborates with GlobalFoundries for chip manufacturing. It has contracts with the US and Australian governments to build quantum supercomputers.
Last month, PsiQuantum announced it had developed a quantum photonic chipset, called Omega, for utility-scale quantum computing.
Reuters: Sources: quantum computing startup PsiQuantum is raising at least $750M led by BlackRock at a $6B pre-money valuation - Quantum computing startup PsiQuantum is raising at least $750 million at a $6 billion pre-money valuation, according to two people familiar with the matter.
Iceberg Quantum, founded by three University of Sydney PhD alumni, has raised $2 million in pre-seed funding led by Blackbird.
PsiQuantum is Hiring for 88 Jobs on Simplify!
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About PsiQuantum
Industries
AI & Machine Learning
Aerospace
Defense
Company Size
201-500
Company Stage
N/A
Total Funding
$1.8B
Headquarters
Palo Alto, California
Founded
2015
PsiQuantum is Hiring for 88 Jobs on Simplify!
Find jobs on Simplify and start your career today