PsiQuantum Finalizes $100 Million Award with the U.S. Department of Commerce

Insider Brief

• PsiQuantum has finalized a $100 million U.S. Department of Commerce award under the CHIPS and Science Act to support quantum computing R&D and domestic semiconductor manufacturing.
• The funding, combined with PsiQuantum’s co-investment, will support development and manufacturing of optical switches, single-photon detectors and advanced packaging technologies.
• The company plans to expand its U.S. supply chain while using silicon photonics manufacturing to support the development of fault-tolerant quantum computers.

PRESS RELEASE — PsiQuantum announced today that the company has signed definitive documentation with the U.S. Department of Commerce for a $100 million award to strengthen American leadership in quantum computing and semiconductor supply-chain security. In May 2026, the company announced that it had signed a letter of intent with the Department for $100 million in proposed federal research and development (R&D) funding.

With federal funding made possible through the CHIPS and Science Act, combined with co-investment by the company in the project, PsiQuantum will accelerate the R&D, domestic manufacturability, and performance of its state-of-the-art critical components, including high-performance optical switches, high-temperature single-photon detectors, and advanced packaging approaches.