PsiQuantum Finalizes $100M CHIPS Act Award With US Department of Commerce

PsiQuantum executed a definitive $100 million award agreement with the US Department of Commerce under the CHIPS and Science Act, converting a Letter of Intent signed in May 2026 into direct capital co-investment. The funding backs domestic manufacturing of the photonic components underlying PsiQuantum's fault-tolerant architecture — 300mm-wafer barium titanate optical switches, high-temperature single-photon detectors, and automated chip-to-fiber packaging — at its PsiFactory assembly facility in Milpitas, California, strengthening onshore semiconductor supply chains for quantum computing.