PsiQuantum, the Palo Alto quantum computing company pursuing a photonic approach to fault-tolerant quantum computers, has received a conditional commitment for a loan of up to $150 million from the Office of Strategic Capital. The money would expand the company’s advanced manufacturing and prototyping in the United States, including its 140,000-square-foot PsiFactory hub in Milpitas, California, where it builds and validates the prototype systems behind its architecture.
The commitment builds on PsiQuantum’s existing collaboration with DARPA’s Quantum Benchmarking Initiative and follows recently awarded funding agreements with DARPA and CHIPS. OSC framed the loan as executing the administration’s mandate to sustain US leadership in quantum information science, which it ranks alongside superintelligence and semiconductors as foundational to economic and military advantage.
The loan is strictly conditional: no final commitment exists until PsiQuantum satisfies financial, legal, technical and due-diligence requirements. It is the second conditional OSC loan in two days, after the $1.5 billion Wolfspeed commitment announced October 7, and together the two show the Pentagon building a lending practice that takes defense capital directly into commercial deep-tech manufacturing capacity.