Quantum startup SQC appoints ex-GlobalFoundries exec as CFO

John Hollister departed US$24 billion chipmaker GlobalFoundries last October. Now he’s joined Michelle Simmons’ Sydney startup Silicon Quantum Computing as CFO.

Key Takeaways

• John Hollister has joined Michelle Simmons’ Silicon Quantum Computing startup as its chief financial officer.
• Austin-based Hollister was last CFO at US$24 billion chip manufacturer GlobalFoundries, departing last October for “personal reasons.”
• SQC is currently developing manufacturing capability for its quantum chips, which it says will power a utility-grade quantum computer in the next 5 years.
• The National Reconstruction Fund (NRF) has invested $60 million in SQC this year, with other backers including Telstra, Commonwealth Bank and the Federal Government.
• SQC is currently developing products that it hopes will allow it to generate significant revenue ahead of a full-blown quantum computer in 2033.

Key background

Silicon Quantum Computing (SQC) has been building its executive bench as it moves to commercialise years of R&D.

The startup first scored big in 2024 with the appointment of former Arm chief executive Simon Segars as its executive chairman. In June it poached Karna Nisewaner from Cadence Design Systems, a US$76 billion company whose software is used by the likes of Nvidia to help design chips and other high-tech electronics.