PsiQuantum says its large-scale photonic quantum push is nearing a prove-it stage after raising $1 billion and advancing twin buildouts in Chicago and Australia, where the second site is slated to be hardware-ready in 2027.
100 cryogenic cabinets linked by liquid-helium cooling would house hundreds of chips and route thousands of photons, a design the company says can scale through existing semiconductor manufacturing with GlobalFoundries.
Three cabinets with 250 chips each are already connected at its Milpitas test site, while the next major step is linking about 100 cabinets in Australia and showing error correction still works at that scale.
DARPA has moved PsiQuantum into the third stage of its quantum evaluation program, but outsiders still struggle to verify the company’s closed-door progress and the 2027 timeline covers site readiness, not a full machine.
By aiming for roughly 1 million qubits, PsiQuantum is betting photonic hardware could eventually tackle quantum chemistry, materials and encryption-related problems that classical computers cannot practically solve.
As rivals advance openly, can PsiQuantum's silent, high-stakes race to build a massive quantum computer actually succeed?
PsiQuantum has raised billions but published no benchmarks. What proof will it offer to justify its massive valuation and secretive approach?
Australia’s $7 Billion Quantum Gamble: The PsiQuantum Deal and the Future of Photonic Computing
Overview
In 2026, Australia made a bold move in the global quantum race by investing nearly A$1 billion in PsiQuantum, a company valued at $7 billion and known for its photonic approach to quantum computing. This investment aims to position Brisbane as a major hub for quantum innovation and reflects Australia's ambition to lead in high-impact technology. While initial hopes were to host the world’s first quantum computer by 2027, updated timelines now anticipate completion closer to 2030. The project promises significant economic benefits and job creation, but faces challenges with delays, technical hurdles, and concerns about local access and transparency.