Nvidia is considering an investment in Australian quantum computing company PsiQuantum, per a report in The Information.
PsiQuantum is in the process of raising $750 million, and if Nvidia were to invest, it would mark the first time the chipmaker has backed a company building physical quantum computers.
The potential investment comes less than six months after Nvidia CEO Jensen Huang told CES attendees that “very useful” quantum computers may take 15-30 years to become a reality, causing the stock prices of quantum computing companies to decline.
He later backtracked on those comments, taking to the stage with a number of quantum computing executives during Nvidia’s Quantum Day in March and telling the audience he was “wrong.”
Nvidia has since invested in SandboxAQ, a company that was spun out of Alphabet in 2022 and now develops software algorithms for quantum computing.
Founded in 2016, PsiQuantum says its mission is to “build and deploy the world’s first useful quantum computer.” The company, which counts Australia’s O’Brien and Terry Rudolph amongst its co-founders, claims to have a “fast and feasible path to large-scale fault-tolerant systems” by using existing technologies, such as high-power cryogenic systems.
Prior investors in the company include BlackRock, Playground Global, Microsoft’s venture arm M12, and the government of Australia and the state of Queensland, and it has previously been reported that PsiQuantum was in talks to raise funds in a round expected to be led by BlackRock and would value the company at $6bn, double the valuation it received in 2021 after closing a $450m round.
In February 2025, PsiQuantum unveiled its Omega quantum photonic chipset, purpose-built for utility-scale quantum computing, and the company is also planning to break ground on two “data center-sized” quantum computing centers this year, one in Brisbane, Australia, and the second in Chicago, Illinois.
The Australian center, set to be built at a site near Brisbane Airport, will house a AU$940 million (US$620m) quantum computer.
PsiQuantum did not respond to DCD’s request for comment regarding the report.
