The Qatar Investment Authority (QIA) has joined a landmark $1 billion Series E funding round for US-based PsiQuantum, a leading quantum computing company. The round was led by affiliates of BlackRock and supported by Temasek, Baillie Gifford, and several global investors, valuing PsiQuantum at $7 billion.
Building the Future of Quantum Computing
Founded in 2016 and headquartered in Palo Alto, PsiQuantum is on a mission to build the world’s first commercially useful, fault-tolerant quantum computers. Unlike experimental systems that demonstrate limited capabilities, PsiQuantum is committed to developing machines at million-qubit scale that can solve real-world problems.
At the core of its approach is error correction, a critical requirement to make quantum systems stable and commercially viable.
Strategic Use of Capital
The fresh funding will accelerate PsiQuantum’s next phase of development, with a focus on scaling production and deploying prototypes. Key initiatives include:
- Scaling Barium Titanate (BTO) production
- BTO is a vital material for ultra-high-performance optical switches.
- These switches are central to optical quantum computing and have applications in next-generation AI supercomputers.
- Establishing utility-scale sites
- Planned facilities in Brisbane and Chicago.
- These sites will enable deployment of large-scale prototype systems and prepare for commercial rollouts.
- Advancing quantum photonic chips
- Improvements in design and performance to strengthen PsiQuantum’s fault-tolerant architecture.
- Development of scalable integration for complex quantum systems.
Why This Matters
Quantum computing is often described as the next frontier in computational power, with the potential to transform industries such as:
- Pharmaceuticals – accelerating drug discovery.
- Finance – solving complex modeling challenges.
- Energy – optimizing resource management and renewable energy systems.
- AI – powering breakthroughs in machine learning and simulation.
For PsiQuantum, the leap from research to utility-scale deployment represents a critical milestone in proving quantum computing’s commercial value.
Voices from the Company
PsiQuantum’s co-founder and CEO, Professor Jeremy O’Brien, emphasized the importance of this round:
“Only building the real thing—million-qubit-scale, fault-tolerant machines—will unlock the promise of quantum computing. With this funding, we’re ready to take the next decisive steps to deliver the full potential of quantum computing.”
Global Backing and Confidence
The Series E round attracted a diverse group of high-profile investors, including:
- BlackRock affiliates (lead investors).
- Temasek and Baillie Gifford.
- Macquarie Capital, Ribbit Capital, NVentures, Adage Capital Management.
- 1789 Capital, Blackbird, Third Point Ventures, T. Rowe Price Associates, and others.
QIA’s participation reflects growing Middle Eastern interest in deep tech investments that have long-term global impact.
Outlook
With $1 billion in new capital, PsiQuantum is poised to transition from research leadership to industrial-scale deployment. Its pursuit of fault-tolerant, million-qubit systems could redefine computing, pushing the boundaries of science, technology, and economic growth worldwide.