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PsiQuantum plans to build world’s first large scale fault tolerant million qubit quantum computers for solving some of the world’s most complex scientific problems

Wayne Williams

16 September 2025

$1 billion of new funding will help the startup create utility scale quantum systems in the US and Australia

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(Image credit: Alex Mack / PsiQuantum)

PsiQuantum to build utility scale systems in Brisbane and Chicago with new funding
Company expands photonic chip production and develops Barium Titanate switches for quantum scaling
Cooling and networking systems designed for data center style racks to support million qubits

PsiQuantum has announced that it has raised $1 billion of Series E funding to further its goal of building fault-tolerant quantum computers at the scale of one million qubits.

The company plans to create sites in Brisbane and Chicago for large-scale prototypes and begin work on utility-scale systems.
Founded on the idea that commercially valuable quantum computing requires error correction, PsiQuantum has focused its approach on photonic qubits.

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IBM and AMD are coming together to ‘build the future of computing’ and yes – it’s all about quantum computing

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Overcoming scaling challenges
It believes that by combining photon-based quantum technology with the manufacturing capabilities of semiconductor fabs, it can overcome scaling challenges that continue to slow progress in the field.

These include manufacturability, cooling systems capable of handling thousands of chips, and reliable networking between modules.
“Only building the real thing – million-qubit-scale, fault-tolerant machines – will unlock the promise of quantum computing,” said Jeremy O’Brien, co-founder and chief executive officer.
“We defined what it takes from day one, this is a grand engineering challenge, not a science experiment. We tackled the hardest problems first – at the architectural and chip level – and are now mass-manufacturing best-in-class quantum photonic chips at a leading US semiconductor fab. With this funding, we’re ready to take the next decisive steps to deliver the full potential of quantum computing,” he added.

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“Nearly nine years after we started, we have pushed the technology to an unprecedented level of maturity and performance,” Pete Shadbolt, co-founder and chief scientific officer, said.
“We have the chips, we have the switches, we have a scalable cooling technology, we can do networking, we have found the sites, we have the commercial motive and the government support – we’re ready to get on and build utility-scale systems.”
PsiQuantum has already built a high-volume manufacturing process for its integrated photonic chipsets, designed in-house and fabricated at GlobalFoundries’ Fab 8 in New York.

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It has also developed new electro-optic switches by including Barium Titanate in its chip production.
These switches are considered critical for scaling optical quantum systems and could also be applied in AI supercomputers that require high-speed, low-power networking.
At the same time, PsiQuantum is designing cooling and control systems that resemble data center racks rather than traditional cryostats.
The company has already demonstrated networking between quantum cabinets using standard telecom fiber, which it says is a requirement for large-scale deployment.

It’s impossible until it’s not. – YouTube

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Wayne Williams

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Wayne Williams is a freelancer writing news for TechRadar Pro. He has been writing about computers, technology, and the web for 30 years. In that time he wrote for most of the UK’s PC magazines, and launched, edited and published a number of them too.

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IBM and AMD are coming together to ‘build the future of computing’ and yes – it’s all about quantum computing

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