Key Takeaways
- • PsiQuantum raises $1 billion in Series E funding at a $7 billion valuation, more than doubling its previous $3.2 billion valuation from 2021, marking the largest funding round for a quantum computing startup to date.
- • BlackRock-affiliated funds lead the round alongside Temasek and Baillie Gifford, with participation from Nvidia's venture capital arm (NVentures), Macquarie Capital, Qatar Investment Authority, Type One Ventures, Counterpoint Global (Morgan Stanley), and S Ventures (SentinelOne).
- • Nvidia commits strategic partnership beyond capital investment, collaborating across quantum algorithms, software development, GPU-QPU integration, and PsiQuantum's silicon photonics platform—marking NVentures' third public quantum computing investment in recent weeks alongside Quantinuum and QuEra.
- • Capital deployment targets production scaling of Barium Titanate (BTO), a high-performance electro-optical material for ultra-high-performance optical switches, and expansion of quantum computing facilities in Brisbane and Chicago.
- • Nvidia CEO Jensen Huang reverses previous skepticism on quantum timeline, having stated in January 2025 that useful quantum computers were 15-30 years away before backtracking during Nvidia's Quantum Day in March, now actively investing in sector development.
Summary
PsiQuantum, an Australian quantum computing company, has closed a $1 billion Series E funding round that values the company at $7 billion—more than double its $3.2 billion valuation when it last raised capital in 2021. The round represents the largest funding event for a quantum computing startup and reflects accelerating institutional capital deployment into the sector. Funds and accounts managed by BlackRock affiliates led the round, joined by Singapore's Temasek Holdings and Scottish asset manager Baillie Gifford as co-investors.
The funding syndicate reveals broad institutional appetite for quantum computing advancement. Beyond the lead investors, the round attracted participation from Nvidia's venture capital arm NVentures, Macquarie Capital, Qatar Investment Authority, Type One Ventures, Counterpoint Global (the Morgan Stanley multi-asset manager), and S Ventures (affiliated with cybersecurity firm SentinelOne). NVentures' participation marks the venture arm's third publicly disclosed quantum computing investment in recent weeks, following commitments to Quantinuum and QuEra—a notable pivot given Nvidia CEO Jensen Huang's January 2025 remarks at CES that commercially useful quantum computers remained 15-30 years away. Huang later reversed course during Nvidia's Quantum Day in March, stating he was "wrong" about the timeline.
Beyond capital infusion, Nvidia is committing to a broad technical partnership with PsiQuantum spanning quantum algorithms, software development, GPU-QPU integration, and advancement of PsiQuantum's silicon photonics platform. The funding will specifically support scaling production of Barium Titanate (BTO), a high-performance electro-optical material optimized for ultra-high-performance optical switches required in utility-scale quantum systems. Capital deployment will also accelerate quantum computing site development in Brisbane, Australia, and Chicago.
The valuation expansion and investor composition—spanning asset managers (BlackRock, Baillie Gifford), sovereign wealth (Temasek, Qatar Investment Authority), venture firms, and strategic technology investors (Nvidia)—signals institutional confidence in PsiQuantum's photonic quantum architecture and near-term commercialization pathway. The round underscores a sector-wide shift toward fault-tolerant quantum computing infrastructure as a near-term institutional investment thesis.
The funding syndicate reveals broad institutional appetite for quantum computing advancement. Beyond the lead investors, the round attracted participation from Nvidia's venture capital arm NVentures, Macquarie Capital, Qatar Investment Authority, Type One Ventures, Counterpoint Global (the Morgan Stanley multi-asset manager), and S Ventures (affiliated with cybersecurity firm SentinelOne). NVentures' participation marks the venture arm's third publicly disclosed quantum computing investment in recent weeks, following commitments to Quantinuum and QuEra—a notable pivot given Nvidia CEO Jensen Huang's January 2025 remarks at CES that commercially useful quantum computers remained 15-30 years away. Huang later reversed course during Nvidia's Quantum Day in March, stating he was "wrong" about the timeline.
Beyond capital infusion, Nvidia is committing to a broad technical partnership with PsiQuantum spanning quantum algorithms, software development, GPU-QPU integration, and advancement of PsiQuantum's silicon photonics platform. The funding will specifically support scaling production of Barium Titanate (BTO), a high-performance electro-optical material optimized for ultra-high-performance optical switches required in utility-scale quantum systems. Capital deployment will also accelerate quantum computing site development in Brisbane, Australia, and Chicago.
The valuation expansion and investor composition—spanning asset managers (BlackRock, Baillie Gifford), sovereign wealth (Temasek, Qatar Investment Authority), venture firms, and strategic technology investors (Nvidia)—signals institutional confidence in PsiQuantum's photonic quantum architecture and near-term commercialization pathway. The round underscores a sector-wide shift toward fault-tolerant quantum computing infrastructure as a near-term institutional investment thesis.
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