PsiQuantum valued at $7 billion in latest funding round, teams up with Nvidia

Quantum computing startup PsiQuantum said on Wednesday it has raised $1 billion in its latest funding round at a valuation of $7 billion, and announced a collaboration with Nvidia to speed up development of its quantum computers.

The Series E funding round was led by investment firms BlackRock, Temasek and Baillie Gifford and saw participation from new investors including Nvidia’s venture capital arm NVentures, Macquarie Capital and Ribbit Capital.

PsiQuantum said the funding will help the company go ahead with sites in Brisbane, Australia and Chicago,…