PSiQuantum - Funding exceeds $1B
The Australian government, specifically using funds investment funds from the Australian Commonwealth and Queensland Governments to fund Utility Quantum Computing. Their main goal is to build a practical quantum system capable of solving commercial problems. Such as, critical industries which include renewable energy, minerals and metals, healthcare, and transportation.
Who is PSiQuantum?
This US Quantum startup firm is based in Palo Alto, California and has received $640M funding from the Australian government. The funding will continue their development of photonic chips and ultimately a 1 Million Qubit system which will be smaller and more modular than competitive offerings. PSiQuantum plans for their architecture to be modular while still being cryogenically cooled.
AU Government parties question the massive investment.
Like anything in life its good to ask questions. One glaring question is why so much investment money and in one large check? Makes one stop and think.
Top Competitors for PSiQuantum?
- IBM, recall they already have a 433-qubit system and has a goal of 1000-qubit system by 2025
- Microsoft
- Google claims to have a quantum computer that takes 3.5 minutes to solve a problem that a supercomputer would need 10,000 years to do.
Who else has vested in PSiQuantum?
PSiQuantum raised $450M in July '23 and those funds are managed by my favorite and yours BlackRock Inc.
Microsoft invested indirectly thru their venture fund M12 during Series D funding.
Curious to learn more about Quantum? My Previous Quantum Computing posts they are here if you missed them:
Jan. '24 Quantum Recap https://www.publish0x.com/quantum-computing-in-bite-size-pieces/jan-24-quantum-recap-xwvvmdr
Quantum Updates - Q323 https://www.publish0x.com/quantum-computing-in-bite-size-pieces/quantum-updates-q323-xrgkpkz
Quantum Computing Updates - Q223 https://www.publish0x.com/quantum-computing-in-bite-size-pieces/quantum-computing-updates-q223-xyeljky
Germany demonstrated quantum entanglement over distance https://www.publish0x.com/quantum-computing-in-bite-size-pieces/germany-demonstrated-quantum-entanglement-over-distance-and-xvmwynv
U.S. Agency NIST selected four quantum-resistant cryptographic algorithms https://www.publish0x.com/quantum-computing-in-bite-size-pieces/us-agency-nist-selected-four-quantum-resistant-cryptographic-xmykpxe
Quantinuum Debuts 20-Qubit H1-1 System https://www.publish0x.com/quantum-computing-in-bite-size-pieces/quantinuum-debuts-20-qubit-h1-1-system-xzgypyv
Quantum storage on a Diamond https://www.publish0x.com/editPost/gJWZBNmR4oxwP4dO
Spring '22 Quantum Computing Updates https://www.publish0x.com/quantum-computing-in-bite-size-pieces/spring-22-quantum-computing-updates-xppwvrd
Quantum Computing using Silicon hits new Fidelity High https://www.publish0x.com/quantum-computing-in-bite-size-pieces/quantum-computing-using-silicon-hits-new-fidelity-high-xknjemy
Summary
Practical and useful Quantum computing should usher in a realm of a fantastic future helping bring about new ways to tackle aerospace, semiconductor manufacturing, and even ways to produce better pharmaceuticals. You excited yet?
