PsiQuantum

PsiQuantum, Corp. (formerly PsiQ)[3] is an American quantum computing company based in Palo Alto, California. It is developing a general-purpose silicon photonic quantum computer.[4][5][6]

PsiQuantum, Corp.
Company typePrivate
IndustryQuantum computing
Founded2016 (2016) in Palo Alto, California
Founders
  • Jeremy O'Brien
  • Terry Rudolph
  • Peter Shadbolt
  • Mark Thompson
Headquarters
Palo Alto, California, US
Key people
  • Jeremy O'Brien (CEO)[1]
  • Terry Rudolph (chief architect)[1]
Number of employees
280 (2024)[2]
Websitepsiquantum.com

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.[7][8]

As of July 2021, PsiQuantum was reported to have raised $665 million from investors at a valuation of $3.15 billion.[1] 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.[9][10][11] PsiQuantum also entered into a collaboration with the Air Force Research Laboratory.[12][13]

In 2023, DARPA selected PsiQuantum as one of the companies to receive funding under its Underexplored Systems for Utility-Scale Quantum Computing (US2QC) program. [14] The UK Government also provided funding for PsiQuantum to open a facility in the UK.[15][16] In 2024, the Australian government announced a A$940 million investment into the company via share purchases, grants and loans.[2] In the wake of the announcement, O'Brien stated that the aim of the company was to have a functioning quantum computer by 2029. Crikey's political editor, Bernard Keane, noted that the company had previously put forward a 2025 deadline.[17] Bernard and other commentators also claimed the selection process by the Australian government lacked transparency.[17][18]

References
  1. Castellanos, Sara (2021-07-27). "PsiQuantum Raises $450 Million to Build Its Quantum Computer". Wall Street Journal. ISSN 0099-9660. Retrieved 2023-12-25.
  2. Bonyhady, Nick (2024-04-29). "Labor's bold $1b bet on Aussie quantum start-up". Australian Financial Review. ISSN 1444-9900. Archived from the original on 2024-04-29. Retrieved 2024-05-01.
  3. Murgia, Madhumita (2019-06-23). "British quantum computing experts leave for Silicon Valley". Financial Times. Retrieved 2023-12-25.
  4. "PsiQuantum - Building the World's First Useful Quantum Computer". PsiQuantum. Retrieved 2023-12-25.
  5. "10-K". www.sec.gov.
  6. Witt, Stephen (2022-12-12). "The World-Changing Race to Develop the Quantum Computer". The New Yorker. ISSN 0028-792X. Retrieved 2024-01-12.
  7. "Team". PsiQuantum. Retrieved 2023-12-25.
  8. "PsiQuantum, with links to Imperial research, reaches multi-billion valuation". Imperial College London. 29 July 2021. Retrieved 25 December 2023.
  9. Smith-Goodson, Paul. "PsiQuantum Has A Goal For Its Million Qubit Photonic Quantum Computer To Outperform Every Supercomputer On The Planet". Forbes. Retrieved 2023-12-25.
  10. staff (2022-04-08). "$25M Federal Funding for Quantum R&D for GlobalFoundries and PsiQuantum". High-Performance Computing News Analysis | insideHPC. Retrieved 2023-12-25.
  11. Cherney, Max. "PsiQuantum targets first commercial quantum computer in under six years". Reuters. Retrieved 25 December 2023.
  12. "PsiQuantum Secures $22.5M Contract with Air Force Research Labs". HPCwire. Retrieved 2023-12-25.
  13. Swayne, Matt (2023-12-18). "AFRL Provides US With Robust Future Quantum Computing, Networking Capabilities". The Quantum Insider. Retrieved 2023-12-25.
  14. Swayne, Matt (2023-12-30). "DARPA 'Excited' About Microsoft, PsiQuantum Approaches to Utility-Scale Quantum Computing". The Quantum Insider. Retrieved 2023-12-31.
  15. "PsiQuantum opens R&D facility at Daresbury Laboratory". www.ukri.org. 2023-10-05. Retrieved 2023-12-25.
  16. "Secretary of State's remarks at PsiQuantum". GOV.UK. 2023-09-04. Retrieved 2023-12-25.
  17. Keane, Bernard (2024-04-30). "Labor reduces transparency to the quantum level in deal with US firm". Crikey. Retrieved 2024-05-06.
  18. Marie, Elisabeth (2024-05-06). "Australia just invested in a near $1b quantum computer — what makes it so special, and is it worth the cost?". Australian Geographic. Retrieved 2024-05-06.
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