Nvidia in advanced talks to invest in PsiQuantum, The Information reports

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Nvidia in advanced talks to invest in PsiQuantum, The Information reports

(Reuters) -Nvidia (NVDA) is in advanced talks to invest in quantum computing startup PsiQuantum, The Information reported on Sunday.

Nvidia and PsiQuantum declined to comment on the report.

Reuters reported in March that PsiQuantum is raising at least $750 million from investors including BlackRock at a $6 billion pre-money valuation.

Quantum technology has the potential to perform types of calculations that would stump even the most powerful artificial intelligence systems that use Nvidia chips and could unlock a host of scientific and commercial applications, including cybersecurity.

Nvidia’s recent investment signals a shift in its quantum computing stance. In March, CEO Jensen Huang announced a new quantum computing research lab in Boston, set to collaborate with Harvard and MIT scientists, despite earlier stating that practical quantum computers were likely 20 years away.

PsiQuantum, unlike quantum computing startups relying on exotic materials, leverages conventional semiconductor manufacturing techniques.

The company is working with the governments in Australia and the United States to build two quantum computers in the coming years – one in Brisbane and the other in Chicago.

(Reporting by Chandni Shah in Bengaluru; Editing by Mrigank Dhaniwala and Sherry Jacob-Phillips)

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