Quantum computing firm PsiQuantum is reportedly raising at least $750 million in a new funding round led by BlackRock, pushing the startup’s pre-money valuation to $6 billion.
The round remains ongoing, but it signals strong investor confidence in PsiQuantum’s ambitious timeline to deliver a fully functional quantum computer by 2029, or sooner.
The US, California-based company uses photonics and semiconductor techniques to produce quantum chips in partnership with GlobalFoundries at a facility in New York.
It has also secured collaborations with the governments of Australia and the US to build quantum computers in Brisbane and Chicago.
The Chicago project will anchor the new Illinois Quantum and Microelectronics Park, marking a major milestone in the commercialisation of quantum technologies.
PsiQuantum faces stiff competition from tech giants like Google, Microsoft, Amazon, and Nvidia, all of whom are making significant strides in quantum research.
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MIT researchers have developed a breakthrough quantum interconnect device that could significantly advance quantum computing by enabling direct communication between multiple quantum processors.
Unlike point-to-point architectures, which suffer from compounded error rates, their new ‘all-to-all’ communication system allows superconducting quantum processors to exchange quantum information efficiently using microwave photons.
By successfully demonstrating remote entanglement between two quantum processors, the researchers have taken a crucial step toward building large-scale quantum computing networks.
Their method involves using superconducting wires to shuttle photons, allowing quantum processors to remain entangled even when physically separate. However, this advancement paves the way for scalable quantum computing with higher flexibility and reduced error rates.
To maximise efficiency, the team employed reinforcement learning algorithms to optimise photon absorption, achieving over 60% absorption efficiency—enough to confirm successful entanglement.
Future improvements may involve refining photon pathways and integrating modules in 3D to further enhance performance. The research, supported by multiple US agencies and AWS, brings quantum computing closer to practical, large-scale implementation.
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Announced at the Amplify 2025 event, the new models include the HP Color LaserJet Enterprise MFP 8801, Mono MFP 8601, and LaserJet Pro Mono SFP 8501. These printers are built to resist sophisticated attacks that could exploit vulnerabilities at the firmware level.
To enhance security, HP has integrated quantum-resistant cryptography within the printers’ ASIC chips. These chips provide digital signature verification, reducing the risk of unauthorised firmware modifications and potential data breaches.
HP emphasised that, without these safeguards, printers could be fully compromised by malicious firmware updates, allowing attackers to gain persistent control over the devices.
The new printers are also designed to integrate seamlessly with Zero Trust network architectures, reinforcing security within enterprise environments.
By incorporating advanced cryptographic measures, HP aims to future-proof its printing solutions against emerging cybersecurity threats.
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Chinese researchers have developed the Zuchongzhi 3.0, a quantum processor 1 quadrillion times faster than the world’s best supercomputers. The 105-qubit chip, created at the University of Science and Technology of China, achieved impressive results, completing a quantum task in mere seconds—1 million times faster than Google’s Sycamore chip.
A breakthrough like this marks a major step forward in quantum computing, especially with its enhancements in coherence time and quantum error correction. The processor’s transmon qubits, made from materials like tantalum and niobium, also show significant improvements in gate fidelity, leading to more accurate computations.
Despite these advancements, experts note that classical computing methods could still close the gap, as seen in past quantum supremacy claims.
Zuchongzhi 3.0’s exceptional performance paves the way for more practical quantum computing applications, promising a new era of solving complex real-world challenges. The progress made in quantum gate fidelity and reduced noise sensitivity places China’s quantum processing technology at the forefront of global developments.
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The National Institute of Standards and Technology (NIST) has introduced HQC, a backup encryption algorithm designed to protect sensitive data from potential threats posed by future quantum computers.
As part of its ongoing efforts to strengthen cybersecurity, the agency selected HQC to complement the existing post-quantum cryptography (PQC) standard, ML-KEM, in case quantum advancements compromise current encryption methods.
HQC relies on error-correcting codes, a mathematical approach used in data protection for decades, including in NASA missions.
The algorithm is larger than ML-KEM and requires more computing power, but experts determined it to be a secure and reliable alternative. A draft standard for HQC is expected within a year, with final approval anticipated by 2027.
NIST has been working to prepare for the so-called ‘Q day,’ when quantum computers could break conventional encryption. Three PQC algorithms were finalized in 2024, including ML-KEM and two digital signature standards.
In addition to announcing HQC, NIST is preparing to release a draft standard for the FALCON algorithm, further strengthening protections against future cyber threats.
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China has announced plans to increase support for AI development and boost venture capital investment as part of its broader strategy to drive technological breakthroughs and self-reliance.
The initiative was outlined in a government report presented at the annual National People’s Congress, highlighting AI, biomanufacturing, quantum technology, and 6G as key areas for future growth.
Authorities plan to encourage the application of large-scale AI models and the advancement of next-generation intelligent terminals and smart manufacturing systems.
The report also emphasised the importance of creating an environment that supports innovation, allowing for exploration and tolerating failure. Young scientists and engineers will be given significant roles in national laboratories to accelerate progress in emerging industries.
China intends to improve its data infrastructure and facilitate cross-border data flows to strengthen its technological capabilities.
The inclusion of AI in the government’s work report for the first time comes amid growing interest in Chinese AI startups such as DeepSeek, signalling Beijing’s intent to remain at the forefront of AI development.
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PsiQuantum has developed a method to manufacture quantum computing chips at scale, solving a key challenge in the industry.
The company confirmed its chipset, Omega, is now ready for mass production through a partnership with GlobalFoundries, which is producing millions of the chips at its factory in Albany, New York.
The startup employs a photonics-based approach, leveraging widely used semiconductor manufacturing techniques. However, this method enables quantum calculations using particles of light while requiring less complex cooling mechanisms than other quantum technologies.
Manufacturing yields have matched those of standard semiconductors, according to company executives.
Findings on mass production were published in the journal Nature, highlighting the readiness of PsiQuantum’s technology. The company expects to complete a facility capable of performing commercial quantum applications by around 2027, aligning with recent industry predictions that quantum computing is now only years away from practical use.
PsiQuantum was valued at $3.15 billion in 2023, positioning it as a leading player in the race for commercially viable quantum computers. Other companies, including Microsoft and Google, have also made significant progress, with Google forecasting commercial applications within five years.
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Quantum Machines (QM), a leader in quantum computing technology, has raised $170 million in a mid-stage funding round, bringing its total funding to $280 million. The investment is seen as a significant step in accelerating QM’s role in the rapidly evolving quantum computing industry. With quantum technology on the verge of becoming a major disruptive force, this funding will help QM expand its hardware and software offerings to meet the demands of quantum system developers globally.
Quantum computing holds enormous promise for breakthroughs in fields such as medicine and chemistry, offering the ability to solve problems far beyond the capabilities of classical computers. While the technology is still developing, key milestones are being reached, including IBM and Google’s advancements in achieving over 1,000 qubits. These developments signal that practical quantum computers could soon become a reality.
QM’s growth is supported by strong backing from major investors, including PSG Equity and Intel Capital, reflecting the increasing confidence in the potential of quantum computing. As the technology matures, companies like Microsoft and Nvidia are also contributing to the ecosystem, highlighting that the quantum race is heating up. Despite regional challenges, Israeli tech startups, including QM, are continuing to attract investment, contributing to the country’s growing tech sector.
With this new funding, QM is well-positioned to drive forward its mission to innovate and lead in the quantum computing space, which many consider one of the most important technological developments of the current generation.
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The rise of quantum computing poses a serious threat to modern encryption systems, with experts warning that critical digital infrastructure could become vulnerable once quantum devices reach sufficient power.
Unlike classical computers that process binary bits, quantum computers use qubits, allowing them to perform vast numbers of calculations simultaneously.
This capability could make breaking widely used encryption methods, like RSA, possible in minutes—something that would take today’s computers thousands of years.
Although quantum systems powerful enough to crack encryption may still be years away, there is growing concern that hackers could already be collecting encrypted data to decode it once the technology catches up.
Sensitive information—such as national security data, intellectual property, and personal records—could be at risk. In response, the US National Institute of Standards and Technology has introduced new post-quantum encryption standards and is encouraging organisations to transition swiftly, though the scale of the upgrade needed across global infrastructure remains immense.
Updating web browsers and modern devices may be straightforward, but older systems, critical infrastructure, and the growing number of Internet of Things (IoT) devices pose significant challenges.
Satellites, for instance, vary in how easily they can be upgraded, with remote sensing satellites often requiring full replacements. Cybersecurity experts stress the need for ‘crypto agility’ to make the transition manageable, aiming to avoid a chaotic scramble once quantum threats materialise.
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According to Bitcoin exchange River, Microsoft’s latest quantum computing chip, Majorana 1, could accelerate the timeline for making Bitcoin resistant to quantum threats. While the risk of a quantum attack remains distant, experts warn that preparations must begin now. The chip, launched on 19 February, is part of a growing race in quantum technology, with Google’s Willow chip also making headlines in December.
River suggests that if quantum computers reach one million qubits by 2027-2029, they could crack Bitcoin addresses in long-range attacks. Though some argue such a scenario is still decades away, River insists early action is key. The potential threat has reignited discussions on BIP-360, a proposed upgrade to strengthen Bitcoin’s defences against future quantum advancements.
Critics remain sceptical, arguing that quantum computing is still in its infancy, with major technical challenges to overcome. Some believe traditional banking systems, which hold far greater assets than Bitcoin, would be targeted first. Others see quantum developments as an opportunity, suggesting they could help fortify Bitcoin’s security rather than weaken it.
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