PsiQuantum Closes $450M Funding Round to Build Commercially Viable Quantum Computer

July 27, 2021

PALO ALTO, Calif., July 27, 2021 — PsiQuantum has raised $450 million in Series D funding to build a commercially viable quantum computer. The funding round was led by funds and accounts managed by BlackRock, along with participation from insiders including Baillie Gifford and M12 – Microsoft’s venture fund – and new investors including Blackbird Ventures and Temasek. PsiQuantum has now raised a total of $665 million in funding to date.

PsiQuantum was founded in 2016 by some of the world’s foremost quantum computing experts, who understood that a useful quantum computer required fault-tolerance and error correction, and therefore at least 1 million physical qubits. The company includes a growing team of world-class engineers and scientists who are working on the entire quantum computing stack, from the photonic and electronic chips, through packaging and control electronics, cryogenic systems, quantum architecture and fault tolerance, to quantum applications. In May 2020, the company started manufacturing the silicon photonic and electronic chips that form the foundation of the Q1 system, a significant system milestone in PsiQuantum’s roadmap to deliver a fault-tolerant quantum computer.

Quantum computing is anticipated to unlock the solutions to otherwise impossible problems, enabling extraordinary advances across a broad range of applications including climate, energy, healthcare, finance, agriculture, transportation, materials design, and more.

“Quantum computing is the most profoundly world-changing technology uncovered to date,” said Jeremy O’Brien, CEO and co-founder of PsiQuantum. “It is my conviction that the way to bring this technology into reality is by using photonics. Our company was founded on the understanding that leveraging semiconductor manufacturing is the only way to deliver the million qubits that are known to be required for error correction, a prerequisite for commercially valuable quantum computing applications. This funding round is a major vote of confidence for that approach.”

Unlike other quantum computing efforts, PsiQuantum is exclusively focused on building a fault-tolerant quantum computer supported by a scalable and proven manufacturing process. The company has developed a unique technology in which single photons (particles of light) are manipulated using photonic circuits which are patterned onto a silicon chip using standard semiconductor manufacturing processes. PsiQuantum is manufacturing quantum photonic chips, as well as the cryogenic electronic chips to control the qubits, using the advanced semiconductor tools in the production line of PsiQuantum’s manufacturing partner GlobalFoundries.

“A commercially viable, general-purpose quantum computer has the potential to create entirely new industries ready to address some the most urgent challenges we face, especially in climate, healthcare, and energy,” said Tony Kim, managing director at BlackRock. “To see this promising technology deployed within a reasonable time frame requires it to be built using a scalable manufacturing process. Silicon photonics combined with an advanced quantum architecture is the most promising approach we’ve seen to date.”

When fault-tolerant quantum computers become available, humankind will be able to use them to solve otherwise impossible problems. PsiQuantum is currently working with global leaders in the healthcare, materials, electronics, financial, security, transportation, and energy sectors to identify and optimize algorithms and applications to support business readiness for the broad adoption of quantum computing. To learn more about PsiQuantum’s technology, visit www.psiquantum.com.

About PsiQuantum

Powered by breakthroughs in silicon photonics and quantum architecture, PsiQuantum is on course to build the world’s first commercially viable quantum computer to solve some of the world’s most important challenges. PsiQuantum believes silicon photonics is the only way to achieve the necessary scale required for error correction and deliver a fault-tolerant, general-purpose quantum computer. With quantum chips now being manufactured in a world-leading semiconductor fab, PsiQuantum is uniquely positioned to deliver quantum capabilities that will drive advances in climate, healthcare, finance, energy, agriculture, transportation, communications, and beyond. To learn more, visit www.psiquantum.com.


Source: PsiQuantum

Subscribe to HPCwire's Weekly Update!

Be the most informed person in the room! Stay ahead of the tech trends with industy updates delivered to you every week!

TACC Supercomputer Delves Into Protein Interactions

September 22, 2021

Adenosine triphosphate (ATP) is a compound used to funnel energy from mitochondria to other parts of the cell, enabling energy-driven functions like muscle contractions. For ATP to flow, though, the interaction between t Read more…

The Latest MLPerf Inference Results: Nvidia GPUs Hold Sway but Here Come CPUs and Intel

September 22, 2021

The latest round of MLPerf inference benchmark (v 1.1) results was released today and Nvidia again dominated, sweeping the top spots in the closed (apples-to-apples) datacenter and edge categories. Perhaps more interesti Read more…

Why HPC Storage Matters More Now Than Ever: Analyst Q&A

September 17, 2021

With soaring data volumes and insatiable computing driving nearly every facet of economic, social and scientific progress, data storage is seizing the spotlight. Hyperion Research analyst and noted storage expert Mark No Read more…

GigaIO Gets $14.7M in Series B Funding to Expand Its Composable Fabric Technology to Customers

September 16, 2021

Just before the COVID-19 pandemic began in March 2020, GigaIO introduced its Universal Composable Fabric technology, which allows enterprises to bring together any HPC and AI resources and integrate them with networking, Read more…

What’s New in HPC Research: Solar Power, ExaWorks, Optane & More

September 16, 2021

In this regular feature, HPCwire highlights newly published research in the high-performance computing community and related domains. From parallel programming to exascale to quantum computing, the details are here. Read more…

AWS Solution Channel

Supporting Climate Model Simulations to Accelerate Climate Science

The Amazon Sustainability Data Initiative (ASDI), AWS is donating cloud resources, technical support, and access to scalable infrastructure and fast networking providing high performance computing (HPC) solutions to support simulations of near-term climate using the National Center for Atmospheric Research (NCAR) Community Earth System Model Version 2 (CESM2) and its Whole Atmosphere Community Climate Model (WACCM). Read more…

Cerebras Brings Its Wafer-Scale Engine AI System to the Cloud

September 16, 2021

Five months ago, when Cerebras Systems debuted its second-generation wafer-scale silicon system (CS-2), co-founder and CEO Andrew Feldman hinted of the company’s coming cloud plans, and now those plans have come to fruition. Today, Cerebras and Cirrascale Cloud Services are launching... Read more…

The Latest MLPerf Inference Results: Nvidia GPUs Hold Sway but Here Come CPUs and Intel

September 22, 2021

The latest round of MLPerf inference benchmark (v 1.1) results was released today and Nvidia again dominated, sweeping the top spots in the closed (apples-to-ap Read more…

GigaIO Gets $14.7M in Series B Funding to Expand Its Composable Fabric Technology to Customers

September 16, 2021

Just before the COVID-19 pandemic began in March 2020, GigaIO introduced its Universal Composable Fabric technology, which allows enterprises to bring together Read more…

Cerebras Brings Its Wafer-Scale Engine AI System to the Cloud

September 16, 2021

Five months ago, when Cerebras Systems debuted its second-generation wafer-scale silicon system (CS-2), co-founder and CEO Andrew Feldman hinted of the company’s coming cloud plans, and now those plans have come to fruition. Today, Cerebras and Cirrascale Cloud Services are launching... Read more…

AI Hardware Summit: Panel on Memory Looks Forward

September 15, 2021

What will system memory look like in five years? Good question. While Monday's panel, Designing AI Super-Chips at the Speed of Memory, at the AI Hardware Summit, tackled several topics, the panelists also took a brief glimpse into the future. Unlike compute, storage and networking, which... Read more…

ECMWF Opens Bologna Datacenter in Preparation for Atos Supercomputer

September 14, 2021

In January 2020, the European Centre for Medium-Range Weather Forecasts (ECMWF) – a juggernaut in the weather forecasting scene – signed a four-year, $89-million contract with European tech firm Atos to quintuple its supercomputing capacity. With the deal approaching the two-year mark, ECMWF... Read more…

Quantum Computer Market Headed to $830M in 2024

September 13, 2021

What is one to make of the quantum computing market? Energized (lots of funding) but still chaotic and advancing in unpredictable ways (e.g. competing qubit tec Read more…

Amazon, NCAR, SilverLining Team for Unprecedented Cloud Climate Simulations

September 10, 2021

Earth’s climate is, to put it mildly, not in a good place. In the wake of a damning report from the Intergovernmental Panel on Climate Change (IPCC), scientis Read more…

After Roadblocks and Renewals, EuroHPC Targets a Bigger, Quantum Future

September 9, 2021

The EuroHPC Joint Undertaking (JU) was formalized in 2018, beginning a new era of European supercomputing that began to bear fruit this year with the launch of several of the first EuroHPC systems. The undertaking, however, has not been without its speed bumps, and the Union faces an uphill... Read more…

Ahead of ‘Dojo,’ Tesla Reveals Its Massive Precursor Supercomputer

June 22, 2021

In spring 2019, Tesla made cryptic reference to a project called Dojo, a “super-powerful training computer” for video data processing. Then, in summer 2020, Tesla CEO Elon Musk tweeted: “Tesla is developing a [neural network] training computer called Dojo to process truly vast amounts of video data. It’s a beast! … A truly useful exaflop at de facto FP32.” Read more…

Berkeley Lab Debuts Perlmutter, World’s Fastest AI Supercomputer

May 27, 2021

A ribbon-cutting ceremony held virtually at Berkeley Lab's National Energy Research Scientific Computing Center (NERSC) today marked the official launch of Perlmutter – aka NERSC-9 – the GPU-accelerated supercomputer built by HPE in partnership with Nvidia and AMD. Read more…

Esperanto, Silicon in Hand, Champions the Efficiency of Its 1,092-Core RISC-V Chip

August 27, 2021

Esperanto Technologies made waves last December when it announced ET-SoC-1, a new RISC-V-based chip aimed at machine learning that packed nearly 1,100 cores onto a package small enough to fit six times over on a single PCIe card. Now, Esperanto is back, silicon in-hand and taking aim... Read more…

Enter Dojo: Tesla Reveals Design for Modular Supercomputer & D1 Chip

August 20, 2021

Two months ago, Tesla revealed a massive GPU cluster that it said was “roughly the number five supercomputer in the world,” and which was just a precursor to Tesla’s real supercomputing moonshot: the long-rumored, little-detailed Dojo system. “We’ve been scaling our neural network training compute dramatically over the last few years,” said Milan Kovac, Tesla’s director of autopilot engineering. Read more…

CentOS Replacement Rocky Linux Is Now in GA and Under Independent Control

June 21, 2021

The Rocky Enterprise Software Foundation (RESF) is announcing the general availability of Rocky Linux, release 8.4, designed as a drop-in replacement for the soon-to-be discontinued CentOS. The GA release is launching six-and-a-half months after Red Hat deprecated its support for the widely popular, free CentOS server operating system. The Rocky Linux development effort... Read more…

Intel Completes LLVM Adoption; Will End Updates to Classic C/C++ Compilers in Future

August 10, 2021

Intel reported in a blog this week that its adoption of the open source LLVM architecture for Intel’s C/C++ compiler is complete. The transition is part of In Read more…

Google Launches TPU v4 AI Chips

May 20, 2021

Google CEO Sundar Pichai spoke for only one minute and 42 seconds about the company’s latest TPU v4 Tensor Processing Units during his keynote at the Google I Read more…

Hot Chips: Here Come the DPUs and IPUs from Arm, Nvidia and Intel

August 25, 2021

The emergence of data processing units (DPU) and infrastructure processing units (IPU) as potentially important pieces in cloud and datacenter architectures was Read more…

Leading Solution Providers

Contributors

AMD-Xilinx Deal Gains UK, EU Approvals — China’s Decision Still Pending

July 1, 2021

AMD’s planned acquisition of FPGA maker Xilinx is now in the hands of Chinese regulators after needed antitrust approvals for the $35 billion deal were receiv Read more…

HPE Wins $2B GreenLake HPC-as-a-Service Deal with NSA

September 1, 2021

In the heated, oft-contentious, government IT space, HPE has won a massive $2 billion contract to provide HPC and AI services to the United States’ National Security Agency (NSA). Following on the heels of the now-canceled $10 billion JEDI contract (reissued as JWCC) and a $10 billion... Read more…

10nm, 7nm, 5nm…. Should the Chip Nanometer Metric Be Replaced?

June 1, 2020

The biggest cool factor in server chips is the nanometer. AMD beating Intel to a CPU built on a 7nm process node* – with 5nm and 3nm on the way – has been i Read more…

Julia Update: Adoption Keeps Climbing; Is It a Python Challenger?

January 13, 2021

The rapid adoption of Julia, the open source, high level programing language with roots at MIT, shows no sign of slowing according to data from Julialang.org. I Read more…

Quantum Roundup: IBM, Rigetti, Phasecraft, Oxford QC, China, and More

July 13, 2021

IBM yesterday announced a proof for a quantum ML algorithm. A week ago, it unveiled a new topology for its quantum processors. Last Friday, the Technical Univer Read more…

Intel Launches 10nm ‘Ice Lake’ Datacenter CPU with Up to 40 Cores

April 6, 2021

The wait is over. Today Intel officially launched its 10nm datacenter CPU, the third-generation Intel Xeon Scalable processor, codenamed Ice Lake. With up to 40 Read more…

Frontier to Meet 20MW Exascale Power Target Set by DARPA in 2008

July 14, 2021

After more than a decade of planning, the United States’ first exascale computer, Frontier, is set to arrive at Oak Ridge National Laboratory (ORNL) later this year. Crossing this “1,000x” horizon required overcoming four major challenges: power demand, reliability, extreme parallelism and data movement. Read more…

Intel Unveils New Node Names; Sapphire Rapids Is Now an ‘Intel 7’ CPU

July 27, 2021

What's a preeminent chip company to do when its process node technology lags the competition by (roughly) one generation, but outmoded naming conventions make it seem like it's two nodes behind? For Intel, the response was to change how it refers to its nodes with the aim of better reflecting its positioning within the leadership semiconductor manufacturing space. Intel revealed its new node nomenclature, and... Read more…

  • arrow
  • Click Here for More Headlines
  • arrow
HPCwire