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Raising $2 Billion to Become the SpaceX of Quantum | PsiQuantum's Pete Shadbolt

Pete Shadbolt, Jensen Huang, Molly O'Shea

PsyQuantum has secured nearly $2 billion in funding led by BlackRock, Nvidia, and Jensen Huang, distinguishing itself as the world's largest privately funded quantum computing company with plans to deploy a one-million-qubit system. The firm is constructing massive industrial campuses in Chicago and Brisbane to manufacture ultra-pure photonics at GlobalFoundries, aiming to bypass current hardware limitations and capture value in materials science before achieving cryptographic relevance. By targeting a direct path to commercial utility in drug discovery and energy rather than incremental scaling, the company positions its technology as an essential scientific instrument capable of generating significant revenue by 2027.