Pasqal and Eleven Ventures Form Joint Venture to Scale Quantum Computing in Saudi Arabia
Event summary
- Pasqal and Eleven Ventures agreed to form a commercial joint venture to deploy quantum computing systems across Saudi Arabia and the broader MENA region.
- The joint venture aims to deploy multiple quantum systems in the coming years, with HRH Prince Abdulaziz Bin Turki Bin Talal as Chairman of the Board of Pasqal Arabia.
- The announcement coincides with the Kingdom of Saudi Arabia’s State Visit to France on August 24, 2026.
- Pasqal has raised over USD 300 million in total funding and is pursuing a listing on Nasdaq in partnership with Bleichroeder Acquisition Corp. II.
The big picture
This joint venture aligns with Saudi Arabia's Vision 2030, aiming to position the Kingdom as a leader in advanced computing and AI. The partnership between Pasqal and Eleven Ventures underscores the strategic importance of quantum computing in the region, with potential implications for global tech competition. The deployment of multiple quantum systems could significantly enhance the Kingdom's technological sovereignty and attract further investment in the sector.
What we're watching
- Regional Dominance
- Whether Pasqal can establish Saudi Arabia as a sovereign hub for quantum technology, reducing reliance on foreign expertise.
- Talent Development
- The pace at which the joint venture can build local quantum talent to meet the Kingdom's Vision 2030 ambitions.
- Market Adoption
- How quickly regional customers adopt Pasqal's quantum systems, given the growing demand for high-performance computing.
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