Pentagon Offers PsiQuantum Conditional Loan of Up to $150 Million
The US Department of War’s Office of Strategic Capital has offered PsiQuantum a conditional commitment for a loan of up to $150 million. This follows a $125 million DARPA deal and a $100 million Commerce award, but the final loan is not guaranteed.
According to PsiQuantum, the funds will be used to equip its Milpitas prototype hub with test gear and cryogenic systems.
“Today’s announcement shows the U.S. government’s bold leadership and continued commitment to quantum computing...” said Victor Peng, PsiQuantum’s chief executive.
What the Loan Would Pay For:
- Test equipment for components and systems
- Infrastructure for assembly and testing
- Advanced cryogenic systems for prototypes
A Year of US Government Deals:
- July: PsiQuantum signed a $125 million expanded agreement with DARPA.
- September: Finalized a $100 million award from the US Department of Commerce.
- June: Broke ground in Australia at Moreton Bay in Queensland.
- September: Broke ground in Chicago at the Illinois Quantum and Microelectronics Park.
About the Author:
Cristian Dina, CRO at The Next Web, has interviewed over 300 industry leaders and authored the book King of Networking. He was included in Forbes 30 Under 30 list in 2025.