PsiQuantum receives $150 million conditional loan from US government

PsiQuantum has announced a conditional loan commitment of up to $150 million from the U.S. Department of War’s Office of Strategic Capital. The funding is intended to strengthen domestic manufacturing, prototyping, and system integration capabilities for fault-tolerant quantum computers.

The company plans to invest the funds into its approximately 140,000-square-foot facility in Milpitas, California. This site will focus on scaling core photonic quantum computing technologies to mass production, including the development of specialized testing equipment, cryogenic systems, and infrastructure for system-level assembly.

This commitment follows other significant federal support for PsiQuantum, including a $125 million contract expansion with DARPA and a $100 million federal support agreement with the Department of Commerce under the CHIPS and Science Act. The loan remains conditional upon meeting specific financial, legal, technical, and regulatory requirements.