PsiQuantum QUANTUM NEWS AND UPDATES

12 Apr 2024: PsiQuantum, a Palo Alto-based startup, anticipates delivering its first commercial quantum computing system in under six years, which is faster than many expert estimates. This accelerated timeline is due to research advancements and strategic partnerships, notably with chip manufacturer GlobalFoundries and the U.S. Department of Energy. The latter collaboration allows PsiQuantum to use facilities at the SLAC National Accelerator Laboratory to design crucial cryogenic quantum modules. Valued at $3.15 billion with $700 million in funding, the company aims to assemble multiple quantum modules into a data center-like configuration, targeting around 1 million quantum bits (qubits) for practical applications.