PsiQuantum explained

PsiQuantum, Corp.
Type:Private
Industry:Quantum computing
Founded: in Palo Alto, California
Hq Location City:Palo Alto, California, US
Num Employees:280 (2024)

PsiQuantum, Corp. (formerly PsiQ)[1] is an American quantum computing company based in Palo Alto, California. It is developing a general-purpose silicon photonic quantum computer.[2] [3] [4]

History

PsiQuantum was co-founded in 2016 by Jeremy O'Brien, Terry Rudolph, Peter Shadbolt, and Mark Thompson. They are or were professors and researchers at the University of Bristol and Imperial College London, England.[5] [6]

As of July 2021, PsiQuantum was reported to have raised $665 million from investors at a valuation of $3.15 billion.[7] Its investors include BlackRock, Baillie Gifford, and Microsoft's venture fund M12.

In 2022, PsiQuantum and GlobalFoundries received U.S. federal funding for quantum computer research and development.[8] [9] [10] PsiQuantum also entered into a collaboration with the Air Force Research Laboratory.[11] [12]

In 2023, DARPA selected PsiQuantum as one of the companies to receive funding under its Underexplored Systems for Utility-Scale Quantum Computing (US2QC) program. [13] The UK Government also provided funding for PsiQuantum to open a test facility for cryogenic testingin the UK.[14] [15]

In 2024, the Australian Commonwealth and Queensland governments announced a million investment into the company via share equity ($250 million USD) and loans.[16] to build the world's first utility-scale, fault-tolerant quantum computer in Brisbane, Queensland. PsiQuantum stated that it had an aggressive plan to have the system operational by the end of 2027[17] . In July 2024, PsiQuantum announced it had signed a memorandum of understanding (MOU) with five Queensland universities (The University of Queensland, Griffith, University, Queensland University of Technology, University of Southern Queensland and the University of the Sunshine Coast) to develop educational programs in quantum fields and collaborate on research projects.[18]

Later in July 2024, PsiQuantum announced it would be partnering with the State of Illinois, Cook County, and the City of Chicago anchor Governor JB Pritzker's new Illinois Quantum and Microelectronics Park.[19]

Notes and References

  1. News: Murgia . Madhumita . 2019-06-23 . British quantum computing experts leave for Silicon Valley . Financial Times . 2023-12-25.
  2. Web site: PsiQuantum - Building the World's First Useful Quantum Computer . 2023-12-25 . PsiQuantum . en-GB.
  3. Web site: 10-K. www.sec.gov.
  4. Witt . Stephen . 2022-12-12 . The World-Changing Race to Develop the Quantum Computer . 2024-01-12 . The New Yorker . en-US . 0028-792X.
  5. Web site: Team . 2023-12-25 . PsiQuantum . en-GB.
  6. Web site: 29 July 2021 . PsiQuantum, with links to Imperial research, reaches multi-billion valuation . 25 December 2023 . Imperial College London.
  7. News: Castellanos . Sara . 2021-07-27 . PsiQuantum Raises $450 Million to Build Its Quantum Computer . en-US . Wall Street Journal . 2023-12-25 . 0099-9660.
  8. Web site: Smith-Goodson . Paul . PsiQuantum Has A Goal For Its Million Qubit Photonic Quantum Computer To Outperform Every Supercomputer On The Planet . 2023-12-25 . Forbes . en.
  9. Web site: staff . 2022-04-08 . $25M Federal Funding for Quantum R&D for GlobalFoundries and PsiQuantum . 2023-12-25 . High-Performance Computing News Analysis insideHPC . en-US.
  10. News: Cherney . Max . PsiQuantum targets first commercial quantum computer in under six years . . 25 December 2023.
  11. Web site: PsiQuantum Secures $22.5M Contract with Air Force Research Labs . 2023-12-25 . HPCwire . en-US.
  12. Web site: Swayne . Matt . 2023-12-18 . AFRL Provides US With Robust Future Quantum Computing, Networking Capabilities . 2023-12-25 . The Quantum Insider . en-US.
  13. Web site: Swayne . Matt . 2023-12-30 . DARPA 'Excited' About Microsoft, PsiQuantum Approaches to Utility-Scale Quantum Computing . 2023-12-31 . The Quantum Insider . en-US.
  14. Web site: 2023-10-05 . PsiQuantum opens R&D facility at Daresbury Laboratory . 2023-12-25 . www.ukri.org . en-US.
  15. Web site: 2023-09-04 . Secretary of State's remarks at PsiQuantum . 2023-12-25 . GOV.UK . en.
  16. News: Bonyhady . Nick . 2024-04-29 . Labor's bold $1b bet on Aussie quantum start-up . Australian Financial Review . 2024-05-01 . subscription . https://web.archive.org/web/20240429124144/https://www.afr.com/technology/labor-s-bold-1b-bet-on-aussie-quantum-start-up-20240429-p5fnb7 . 2024-04-29 . live . 1444-9900.
  17. News: April 30, 2024 . PsiQuantum to Build World’s First Utility-Scale, Fault-Tolerant Quantum Computer in Australia . PsiQuantum.
  18. Web site: July 15, 2024 . PsiQuantum Partners with Queensland Universities, Bolstering the Future of Quantum Computing in Australia . PsiQuantum.
  19. Web site: July 25, 2024 . Gov. Pritzker Announces Location and PsiQuantum as Anchor Tenant of New Quantum Park . Governor JB Pritzker - Newsroom.

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