PsiQuantum has secured a $100 million grant from the U.S. Department of Commerce under the CHIPS Act to boost domestic quantum computing efforts.
PsiQuantum, a developer of quantum computing technology, has secured a $100 million grant from the U.S. Department of Commerce as part of the CHIPS and Science Act. This funding initiative aims to bolster domestic research and production of critical hardware components like optical switches and photon detectors.
The company specializes in creating fault-tolerant quantum computers using silicon photonics, which allows for production at existing semiconductor facilities. CEO Victor Peng emphasized that this federal support will help in relocating supply chains to the U.S. and speed up equipment assembly.
PsiQuantum's primary chip manufacturing partner is GlobalFoundries, with whom they have collaborated since 2019. The startup has invested approximately $200 million by 2025 in building a network of U.S. suppliers.
In addition to this grant, PsiQuantum also entered into a $125 million contract with DARPA in July 2026, aimed at exploring commercial avenues for quantum technology applications.
This grant is part of a larger government strategy, with the Department of Commerce announcing a $2 billion investment in the domestic quantum sector in May 2026. The funding is allocated among nine companies, with IBM receiving the largest share of $1 billion, while GlobalFoundries will get $375 million for its production facilities. The remaining funds will assist seven startups, including PsiQuantum, Atom Computing, and D-Wave, in overcoming engineering hurdles.
In exchange for the subsidies, the government will acquire minority stakes in all companies receiving funding.
