PsiQuantum Receives Conditional $150 Million Loan Commitment from the U.S. Department of War to Advance Domestic Quantum Computing

PsiQuantum Receives Conditional $150 Million Loan Commitment from the U.S. Department of War to Advance Domestic Quantum Computing

Potential Financing from the Office of Strategic Capital Would Strengthen PsiQuantum’s American Manufacturing and Path to Fault-Tolerant Quantum Computing in the United States

PsiQuantum announced today that the company has received a conditional commitment for a loan of up to $150 million from the U.S. Department of War’s Office of Strategic Capital (OSC), which would expand the company’s advanced manufacturing and prototyping capabilities in the United States.

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Several cryogenic cabinets networked together and installed at PsiFactory in Milpitas, California. Potential financing from the Office of Strategic Capital would support PsiQuantum’s 140,000-square-foot hub for scaling the company’s state-of-the-art technologies and developing and validating the prototype systems that underpin its fault-tolerant quantum computing architecture. (Credit: PsiQuantum)

The financing would support PsiQuantum’s 140,000-square-foot hub in Milpitas, California, for scaling the company’s state-of-the-art technologies and developing and validating the prototype systems that underpin its fault-tolerant quantum computing architecture. Combined with co-investment from PsiQuantum, which anchors its supply chain in the United States, this new financing would strengthen the company’s domestic capacity for design, testing, and system integration as PsiQuantum advances toward building utility-scale, fault-tolerant quantum computers in the United States.