PsiQuantum Secures U.S. Government Funding for Quantum Computing Development
PsiQuantum, a company focused on building fault-tolerant quantum computers, has secured significant funding from the U.S. government. In 2026, the U.S. Department of Commerce signed a $100 million Letter of Intent under the CHIPS and Science Act. This was followed by a $125 million agreement with DARPA under Stage C of its Quantum Benchmarking Initiative, marking PsiQuantum's most substantial U.S. government agreement to date. The company's approach is based on silicon photonics, leveraging advanced semiconductor manufacturing processes. Photonics offers advantages for scalability, as photons are immune to electromagnetic interference and integrate with existing cryogenic cooling and fiber-optic infrastructure. PsiQuantum's technology has undergone rigorous scrutiny by the U.S. government for emerging technologies. The company also closed a $1 billion funding round in 2025, valuing it at $7 billion, and has begun construction on a utility-scale quantum computer in Brisbane, Australia, while expanding its C...
