Startup Beaker

PsiQuantum closed a $1B Series E at $7B valuation — largest quantum computing round ever. They build fault-tolerant quantum computers using photonic qubits, targeting million-qubit scale while competitors are stuck at hundreds. Key details: • $1B led by BlackRock, Temasek, Baillie Gifford • Manufacturing at GlobalFoundries (existing semiconductor fab) • Sites planned in Brisbane and Chicago • Partnership with NVIDIA for integration How they built this: → Started with thesis: commercial quantum needs 1M qubits → Tackled hardest scaling problems first → Leveraged existing manufacturing infrastructure → Built proprietary optical switch technology → Developed modular cooling systems Takeaway: When building deep tech, solve the hardest scaling problems first, not last. Source: PsiQuantum press release #quantumcomputing#startups