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Canada Commits CAD $195M ($140.2 M USD) to Xanadu for $893M ($642.2M USD) “Inception” Quantum Manufacturing Facility
Photonic quantum computing developer Xanadu (NASDAQ/TSX: XNDU) has signed a definitive agreement with the Government of Canada securing CAD $195 million ($140.2 million USD) in federal funding through the Strategic Response Fund, administered by Innovation, Science and Economic Development Canada (ISED). The federal commitment anchors a broader CAD $893 ($642.2 million USD) million project—designated Project OPTIMISM—to construct “Inception,” a 158,000-square-foot advanced photonics research, development, and manufacturing facility in Toronto.
