$100 million is the size of PsiQuantum’s letter of intent with the US Department of Commerce under the CHIPS and Science Act, marking fresh federal backing for the Palo Alto photonic quantum company.
PsiQuantum is pursuing fault-tolerant quantum computing with silicon photonic chips made by GlobalFoundries, aiming for a utility-scale system by 2029 and betting photons can avoid the extreme cooling most quantum machines require.
$1 billion in Series E funding at a $7 billion valuation in September 2025 gave the company added momentum as it builds utility-scale facilities in Chicago and Moreton Bay, Australia.
Photonic quantum computing has drawn broad industry interest because it can run processors at room temperature and link to existing optical networks, though photon loss and scaling still leave it competing with trapped-ion and superconducting approaches.
As photonic quantum computers enter standard data centers, could their room-temperature advantage instantly obsolete the massive cooling infrastructure of rival technologies?
With hundreds of millions pouring into silicon photonics, is the ultimate quantum breakthrough actually just a telecommunications networking revolution in disguise?
Will hybrid atom-photon breakthroughs finally solve the fatal flaw of photon loss before superconducting systems win the quantum race?