Insider Brief
PRESS RELEASE — PsiQuantum today announced that the company has signed a new $125 million expanded agreement with the Defense Advanced Research Projects Agency (DARPA) under DARPA’s Quantum Benchmarking Initiative (QBI), the U.S. government’s most rigorous effort to evaluate commercial pathways to utility-scale quantum computing.
PsiQuantum remains one of two companies in Stage C, QBI’s final and most advanced stage focused on verifying and validating the company’s approach to building, deploying, and operating its utility-scale quantum computers as designed.
“DARPA’s Quantum Benchmarking Initiative is one of the most comprehensive and rigorous government programs for evaluating emerging technology that I have ever seen,” said Victor Peng, Chief Executive Officer of PsiQuantum. “Their widely respected team of experts has stress-tested PsiQuantum’s approach, provided an independent and clear-eyed assessment and validation of our designs and our teams, and ultimately made our company and technology all the better for it.”
The performance-based award, PsiQuantum’s most valuable government award to date, will support testing and evaluation of the company’s utility-scale hardware designs, critical components, system-level performance, and software development. The agreement will also enable PsiQuantum to invest in essential infrastructure at the company’s facilities in Milpitas, California, and Chicago, Illinois, as it advances toward building and deploying the world’s first utility-scale, fault-tolerant quantum computers.
