# PsiQuantum Likely Less Than Six Years Away From Commercial Quantum Computer

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PsiQuantum, a Palo Alto startup valued at $3.15 billion, plans to deliver its first commercial quantum computer within six years, outpacing expert predictions. Collaborating with GlobalFoundries and the U.S. Department of Energy, the company uses SLAC National Accelerator Laboratory facilities to design cryogenic quantum modules. PsiQuantum aims to integrate these modules into a data center-like setup with around 1 million qubits for applications in materials science, national security, and finance.

Published: 2024-04-12
Updated: 2024-04-12





Source: thequantuminsider.com (https://thequantuminsider.com/2024/04/13/psiquantum-likely-less-than-six-years-away-from-commercial-quantum-computer/)




Organizations: PsiQuantum









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. Potential uses include materials science, national security, and finance. Additionally, PsiQuantum is researching cost-effective green hydrogen production.