The Qatar Investment Authority (QIA) has participated in a massive $1 billion Series E funding round for the US-based photonic quantum computing company, PsiQuantum. The round, which elevates the company’s valuation to $7 billion, was led by funds managed by BlackRock and stands as one of the largest global investments in the quantum computing sector.
By The Numbers
- Funding Round: Series E
- Amount Raised: $1 Billion
- Company Valuation: $7 Billion
- MENA Investor: Qatar Investment Authority (QIA)
Building a Million-Qubit Quantum Computer
PsiQuantum is on a mission to build the world’s first commercial, fault-tolerant, and scalable 1-million-qubit quantum computer. The company’s unique approach utilizes photonic qubits (particles of light) and leverages standard, high-volume semiconductor manufacturing techniques to produce its advanced photonic chips. This method is designed to overcome the scaling challenges faced by other quantum computing architectures.
A Global Consortium of Elite Investors
The landmark funding round saw QIA invest alongside a global consortium of elite institutions. The round was led by BlackRock and included participation from Temasek, Baillie Gifford, NVentures (NVIDIA’s venture arm), Macquarie Capital, and Morgan Stanley Counterpoint Global, among others. This powerful syndicate underscores the immense global confidence in PsiQuantum’s technology and its potential to lead the quantum race.
Fueling the Next Stage of Development
The new capital will be used to accelerate PsiQuantum’s path to commercialization. Key initiatives include:
- Launching new quantum computing sites.
- Deploying large-scale preliminary systems to test system architecture and integration.
- Advancing the development of cutting-edge optical switches, a core technology essential for scaling its systems and potentially for future AI supercomputers.
About the Companies
- PsiQuantum: A leading US-based company founded by experts from Stanford and the University of Bristol, focused on developing a general-purpose, fault-tolerant quantum computer based on photonic technology.
- Qatar Investment Authority (QIA): The sovereign wealth fund of the State of Qatar, a major global investor with a diversified portfolio across a wide range of asset classes and regions.
Looking Ahead
QIA’s participation in this deal signals a growing trend of Gulf sovereign wealth funds making strategic, long-term investments in deep-tech and future-defining industries. By backing a global leader in the quantum computing race, Qatar is positioning itself to be at the forefront of the next wave of computational power—a technology expected to have a transformative impact on medicine, materials science, finance, and artificial intelligence.
Source: Jawlah
