A quantum computing company in California just raised a billion dollars. And now, they’re partnering up with Nvidia to build the future of quantum-classical computing.

What’s happening:

  • PsiQuantum has raised $1B USD in a new Series E financing round
  • The new funding round had multiple notable participants, including Nvidia (NASDAQ: NVDA), BlackRock, Qatar Investment Authority and Morgan Stanley’s Counterpoint Global

By the numbers:‍

  • PsiQuantum’s Series E financing round gives the company a valuation of more than $7B USD

Why it matters:‍

  • PsiQuantum’s new financing round is the single largest round of venture capital funding ever raised for a private quantum computing company

Going deeper:‍

  • A large portion of the new growth capital raised by PsiQuantum will go towards building their first large scale quantum computing facilities in Australia to significantly scale up new testing and prototyping of their quantum systems
  • Nvidia also just recently made major waves when they formed a new partnership with PsiQuantum to leverage PsiQuantum’s silicon photonic chips with Nvidia’s GPUs to come after the opportunity in quantum-classical collaborative computing, which Nvidia and PsiQuantum are aiming to be able to deploy into data centres

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