Quantum computing startup PsiQuantum is raising at least $750 million at a $6 billion pre-money valuation, according to two people familiar with the matter. BlackRock is leading the fundraising effort, which has not yet been completed, one of the people said. Unlike some quantum computing startups using exotic materials, PsiQuantum is aiming to modify traditional manufacturing techniques from the semiconductor industry. The company uses existing photonics technology – the same kind of chipmaking used to make the fiber-optic connections for internet communications – at a factory run by GlobalFoundries in New York, saying it plans to make millions of quantum chips. Scaling up those plans to make a high volume of quantum computing processors is a costly, complex endeavor and requires fundraising, one of the people said.
Startups and major tech firms alike are chasing quantum computing, which can solve complex problems that would take conventional computers thousands or millions of years, such as predicting how atoms and molecules will interact. Scientists hope to use quantum machines to develop new materials for batteries and new drugs.

Full report : Quantum computing startup PsiQuantum raising at least $750 million from BlackRock and others at a $6 billion valuation.