PsiQuantum has announced on October 8, 2026 that it has obtained a conditional approval for a loan of around $150 million from the U.S. Department of War’s Office of Strategic Capital – OSC in order to expand the company’s advanced manufacturing and prototype systems in the US.
Notably, the funding within advanced manufacturing and prototype systems will help support PsiQuantum’s 140,000-square-foot Milpitas, California, headquarters as the company scales its leading-edge technologies and develops and validates the prototype systems at the core of its fault-tolerant quantum computing architecture. This new financing, together with co-investment from PsiQuantum, anchoring its supply chain in the United States, would bolster the company’s domestic capacity for design, testing, and system integration as PsiQuantum moves toward the construction of utility-scale, fault-tolerant quantum computers in the US.
According to Victor Peng, Chief Executive Officer of PsiQuantum, “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.”
PsiQuantum will use funding from the Office of Strategic Capital to purchase essential infrastructure and equipment necessary to build, test, and validate prototype quantum systems, including
- Test equipment for manufacturing and validating components, sub-assemblies, and system-level assemblies
- System assembly, integration, and test of critical infrastructure
- Prototype systems by advanced cryogenic systems
Any potential Department of War financing would be used by the company to grow and improve its domestic quantum computing capacity.
- In July 2026, the company announced an expanded $125 million agreement with the Defence Advanced Research Projects Agency – DARPA under DARPA’s Quantum Benchmarking Initiative, the U.S. government’s most rigorous effort to assess commercial paths to utility-scale quantum computing. PsiQuantum has been engaged in this evaluation program with DARPA since 2022.
- PsiQuantum also announced in September 2026 that the company had signed definitive documentation with the U.S. Department of Commerce for $100 million of federal incentives in the aegis of the CHIPS and Science Act to advance American quantum computing and semiconductor leadership.
- PsiQuantum has been working with the Air Force Research Lab since 2022 to develop expertise in manufacturing semiconductor chips and silicon photonics for the U.S. Air Force.
Today’s announcement comes after a year of strong momentum for PsiQuantum as the company continues to build out its quantum infrastructure globally. This June, PsiQuantum broke ground and commenced construction on its facility at Moreton Bay Central in Queensland, Australia. In September 2025, the company broke ground on its Chicago site at the Illinois Quantum and Microelectronics Park.
The proposed financing is still strictly conditional and not a guarantee. A final loan obligation will only be entered into if all relevant financial, legal, and technical as well as regulatory conditions set forth in the conditional commitment are satisfied by PsiQuantum.