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Fortune

Business

Lily Mae Lazarus

FORGOTTEN HISTORY: Why blackrock nvidia and temasek are betting billions on quantum computing - Caught on Camera

BlackRock Nvidia Temasek Quantinuum PitchBook Baillie Gifford Nasdaq

Quantinuum rings the IPO bell at the Nasdaq (Credit: MICHAEL NAGLE—Bloomberg/Getty Images)

For four decades, quantum computing was all about theory. Now it’s all about term sheets.

VC investment in quantum computing hit $3.9 billion across 125 deals in 2025—the highest annual total ever recorded, per a new PitchBook report. Q3 2025 alone clocked $1.6 billion—more than any full year before 2021. And early 2026 is keeping pace: $1.2 billion landed in Q1 before the usual post-megadeal digestion.

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