PsiQuantum Executes Definitive $100 Million CHIPS Act Award with U.S. Department of Commerce - Quantum Computing Report

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PsiQuantum Executes Definitive $100 Million CHIPS Act Award with U.S. Department of Commerce

Fault-tolerant photonic quantum computing developer PsiQuantum has finalized definitive documentation with the U.S. Department of Commerce to execute a $100 million federal research and development award under the CHIPS and Science Act. Following the initial Letter of Intent signed in May 2026, the finalized agreement provides direct capital co-investment to accelerate domestic semiconductor process development, advance photonic component manufacturability, and strengthen onshore supply chain security for fault-tolerant quantum computing infrastructure.