PsiQuantum raised $940 million in funding from the federal and Queensland governments to develop useful quantum computing solutions.

Dec 19, 2024•10 months ago

Amount Raised

$940 Million

Palo Alto

Investors

Queensland GovernmentFederal Government

Description

PsiQuantum secured a significant investment of $940 million from government sources to aid in creating the first practical quantum computers. This funding aims to stimulate local economic benefits and create approximately 400 new jobs in Queensland.

Company Information

Company

PsiQuantum

Location

Palo Alto, California, United States

About

Powered by breakthroughs in silicon photonics and quantum architecture, PsiQuantum is on course to build the world’s first commercially viable quantum computer to solve some of the world’s most important challenges. PsiQuantum believes silicon photonics is the only way to achieve the necessary scale required for error correction and deliver a fault-tolerant, general-purpose quantum computer. With quantum chips now being manufactured in a world-leading semiconductor fab, PsiQuantum is uniquely positioned to deliver quantum capabilities that will drive advances in climate, healthcare, finance, energy, agriculture, transportation, communications, and beyond. To learn more, visit www.psiquantum.com.

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PsiQuantum raised $940 million in funding from the federal and Queensland governments to develop useful quantum computing solutions.

Investors

Description

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Funding Insights

Company Information