PsiQuantum has received a conditional commitment for a $150 million loan from the US Department of War’s Office of Strategic Capital to expand advanced manufacturing and prototyping in the US, supporting “PsiFactory,” its 140,000-square-foot R&D and manufacturing hub in Milpitas, California, where it does barium titanate manufacturing and test-system assembly.
The commitment is conditional: funding only arrives if PsiQuantum meets financial, legal, technical, and regulatory conditions. The company, founded in 2016, is pursuing photonic quantum computing; it unveiled its Omega quantum photonic chipset in February 2025, broke ground at the Illinois Quantum and Microelectronics Park in September 2025, and reached Stage C of DARPA’s Quantum Benchmarking Initiative.
The loan follows a separate May 2026 CHIPS Act letter of intent awarding PsiQuantum $100 million for a non-controlling equity stake, part of a $2.013 billion package across nine quantum companies. With the Wolfspeed commitment last week, the pattern is now explicit: strategic-capital loans are filling the financing gap for capital-intensive US hardware companies that equity markets are repricing.