PsiQuantum received a conditional commitment for a loan of up to $150 million from the U.S. Department of War’s Office of Strategic Capital to expand domestic quantum computing manufacturing and prototyping capabilities.
The potential financing would support PsiQuantum’s 140,000-square-foot PsiFactory facility in Milpitas, California.
PsiQuantum plans to use the facility to scale key technologies and develop and validate prototype systems supporting its fault-tolerant quantum computing architecture.
The financing would be combined with PsiQuantum’s own investment and is intended to strengthen the company’s U.S.-based supply chain.
Funds could be used to acquire test equipment for components, subassemblies, and system-level assemblies.
The financing would also support infrastructure for quantum system assembly, integration, and testing, along with advanced cryogenic systems.
PsiQuantum is pursuing utility-scale, fault-tolerant quantum computers based on photonic technology.
The conditional loan follows several additional U.S. government initiatives involving the company.
In July 2026, PsiQuantum announced an expanded $125 million agreement with the Defense Advanced Research Projects Agency under its Quantum Benchmarking Initiative.
The company has participated in DARPA’s evaluation program since 2022.
In September, PsiQuantum signed definitive documentation with the U.S. Department of Commerce for $100 million of federal incentives under the CHIPS and Science Act.
PsiQuantum has also worked with the Air Force Research Laboratory since 2022 on semiconductor manufacturing and silicon photonics.
KEY QUOTES:
“Today’s announcement shows the U.S. government’s bold leadership and continued commitment to quantum computing as a critical technology for America’s economic prosperity and national security.”
“Delivering on the full promise of this technology in the United States will require world-class manufacturing and engineering ecosystems, and this potential financing underscores the vital role Washington can play.”
Victor Peng, CEO of PsiQuantum
