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PsiQuantum has raised $1 billion in a Series E round valuing the company at $7 billion, one of the largest financings ever in the quantum computing space. BlackRock led the investment, joined by Temasek, Baillie Gifford, NVIDIA’s NVentures, QIA, and new participants Macquarie Capital and Morgan Stanley’s Counterpoint Global. Existing backers T. Rowe Price, Third Point, and Blackbird also took part.
The California startup is pursuing a photonic qubit architecture designed to scale with semiconductor manufacturing processes. Proceeds will fund prototype deployment, expansion of optical switch production, and utility-scale facilities in Brisbane and Chicago.
PsiQuantum’s mega-round comes amid a broader surge in quantum financings. Per Dakota transaction data, billions of dollars have been committed to the sector in just the past few months. Finland’s IQM closed a $320 million Series B in September, the largest quantum Series B on record. Boston-based QuEra raised $230 million, with NVIDIA backing its neutral-atom approach. Israel’s Classiq secured more than $110 million in Series C funding, setting a new benchmark for quantum software. Additional raises from OpenLight, QuiX Quantum, and others show capital flowing across hardware, software, and enabling components.
The influx of capital reflects both the scale of the challenge and the stakes of the opportunity. Strategic players such as NVIDIA are increasingly central, investing across architectures while promoting quantum within their accelerated computing ecosystem.
PsiQuantum’s raise underscores the view that quantum is moving beyond academic research into the realm of commercial infrastructure buildout, a long-term, capital-intensive race now attracting the attention of the world’s largest institutional investors.
For more information on this raise and other quantum computing transactions, book a demo of dakota marketplace.
Written By: Peter Harris, Investment Research Associate
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