Nvidia's Quantum Pivot? Jensen Huang-Led Chip Giant Reportedly Mulls Major Stake In PsiQuantum
Nvidia Corporation is reportedly in advanced talks to invest in quantum computing startup PsiQuantum, which is working with the U.S. and Australian governments to build quantum computers. PsiQuantum utilizes standard semiconductor manufacturing methods and is securing at least $750 million in funding, valuing the company at $6 billion. Nvidia recently announced a quantum research lab in Boston and is set to release its first-quarter earnings on May 28, with analysts expecting earnings of 89 cents per share on revenue of $43.07 billion. Nvidia's stock closed at $135.40, up 0.4%.
Nvidia Corporation NVDA is reportedly in advanced talks to invest in a quantum computing startup.
What Happened: Nvidia is considering a major investment in PsiQuantum, reported Reuters (via The Information).
Quantum technology could handle computations far beyond the capabilities of today's most advanced AI systems powered by Nvidia chips. PsiQuantum is working with the U.S. and Australian governments to build quantum computers in Chicago and Brisbane.
Unlike other quantum computing startups that depend on exotic materials, PsiQuantum leverages standard semiconductor manufacturing methods, the report said.
In March, Reuters reported that PsiQuantum is securing a minimum of $750 million in funding from investors such as BlackRock BLK, valuing the company at a $6 billion pre-money valuation.
In March, however, Nvidia announced a quantum research lab in Boston in collaboration with Harvard and MIT.
Nvidia is scheduled to release its first-quarter earnings on May 28 after the market closes. According to Benzinga Pro, analysts expect the company to post earnings of 89 cents per share on revenue of $43.07 billion.
Price Action: On Friday, Nvidia’s stock ended 0.4% higher at $135.40.
Benzinga Edge Stock Rankings gives Nvidia a growth score of 95.02%. Click here to see how it compares with other leading tech companies.
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