10 Sep PsiQuantum Raises $1 Billion, Says Its Computer Will Be Ready in Two Years

The funding gives the quantum computing startup a valuation of $7 billion
The Wall Street Journal
By Isabelle Bousquette
Sept. 10, 2025
PsiQuantum, which is targeting an aggressive 2027 timeline to deliver a full-scale commercial-grade quantum computer, said Wednesday that it collected $1 billion in its latest fundraise.

The funding round, led by existing investors BlackRock, Temasek and Baillie Gifford, and including new investors such as Nvidia’s venture-capital arm, brings the startup’s valuation to $7 billion.

PsiQuantum also announced a collaboration with Nvidia around integrating quantum hardware with AI chips, among other areas.

The Series E financing comes amid a surge of recent activity in the space. Quantinuum’s latest fundraise earlier this month gave it a valuation of $10 billion, IQM raised $320 million at a $1 billion valuation, and Infleqtion said it would go public via a special-purpose acquisition company at a $1.8 billion valuation.

“I think this is the investment world sort of putting a flag in the ground and declaring that it’s game-on for quantum computing,” said PsiQuantum co-founder and Chief Executive Jeremy O’Brien.

The technology, which promises to power certain computations that are virtually impossible for today’s computers, could transform everything, including the way companies make medicine, invest money, deliver internet and encrypt information.

While many competitors are starting small and gradually building larger and larger systems, PsiQuantum differentiates itself with a bold approach. It plans to build a 1-million-qubit fault-tolerant machine right off the bat. A fault tolerant quantum computer is one that can correct the small, unavoidable errors that arise in computation and consistently deliver reliable results.

A quantum computer in Brisbane, Australia, is expected to be online by the end of 2027 and one in Chicago in 2028, the company said. Some of the newly raised money will also go toward building large-scale test systems and ramping up production of materials.

Luke Ward, an investment manager on the private companies team at investor Baillie Gifford, said PsiQuantum’s manufacturing maturity and its ability to lean on an existing supply chain are part of the attraction. PsiQuantum manufactures its quantum chipset at GlobalFoundries in upstate New York. Baillie Gifford has invested more than $100 million in PsiQuantum so far.

Now, Ward said, the focus is shifting to the next challenge: making sure people will actually be ready to use these systems once they come online. PsiQuantum is working with companies to build quantum software and quantum algorithms to make that happen, he said.

That will be part of the focus of its collaboration with Nvidia. The two companies will also work together in areas like making sure quantum hardware can work alongside Nvidia GPUs.

As other quantum companies promise to deliver systems close to five years from now, Ward says he is optimistic about PsiQuantum’s 2027 timeline.

“I’m sure there will be delays in these things as there always are, but their ability to deliver on that, I think, is getting stronger and stronger,” Ward said.

Learn more about PsiQuantum.

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