PsiQuantum raises $1B Series E at $7B valuation to build million-qubit machines
On 2025-09-10 PsiQuantum announced a $1 billion Series E at a $7 billion valuation, co-led by funds affiliated with BlackRock, Temasek, and Baillie Gifford, with participation from Macquarie Capital, the Qatar Investment Authority, Type One Ventures, Counterpoint Global (Morgan Stanley), S Ventures (SentinelOne), and NVIDIA's NVentures. The raise brings total funding to roughly $2 billion and funds large-scale sites in Brisbane and Chicago plus a collaboration with NVIDIA on GPU-QPU integration and silicon-photonics.
A $1B single financing for a pure-play sits well above the ~$550M score-7 anchor and approaches the top capital tier, marking the largest quantum-hardware round of the period and entrenching photonic fault-tolerance as a fundable scaling thesis.
PsiQuantum's capital depth and dual government-anchored sites (Australia, Illinois) raise the bar for competitors' financing and reinforce NVIDIA's cross-portfolio quantum positioning following its Quantinuum entry six days earlier.