Ashlee VanceNYT Best Seller | Reporter at Bloomberg Businessweek

Quantum Computing The Next Big Thing or a Million Dollar Dream

7 Aug 2025 · 0 min

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Quantum computing promises to transform finance, science, and medicine, but practical machines have been perpetually 20 years away. PsiQuantum just raised $1 billion, the biggest bet yet on actually building a scalable quantum computer, though the speaker calls the overall spending spree crazy.

On the one hand, quantum computing is going to change everything. Finance, science, physics, medicine. On the other hand, it's always 20 years away. People hemorrhage millions upon millions of dollars chasing this dream, and it's crazy. But we are in luck because we have PsiQuantum. It is the biggest, boldest bet in the entire quantum computing field. They've raised $1 billion to actually go build these machines.