$125M DARPA Deal Boosts PsiQuantum’s Quantum Computing Push
Event summary
- $125M expanded agreement with DARPA under Quantum Benchmarking Initiative (QBI).
- PsiQuantum is one of two companies in Stage C, QBI’s final and most advanced stage.
- Funds will support testing and evaluation of utility-scale hardware designs, critical components, system-level performance, and software development.
- Agreement enables investment in infrastructure at facilities in Milpitas, California, and Chicago, Illinois.
The big picture
PsiQuantum's $125M deal with DARPA underscores the growing government investment in quantum computing. The agreement highlights PsiQuantum’s advanced position in the Quantum Benchmarking Initiative, positioning it as a key player in the race to develop utility-scale quantum computers. This deal follows other significant partnerships, including a proposed $100M incentive under the CHIPS and Science Act, indicating strong government support for advancing U.S. leadership in quantum technology.
What we're watching
- Execution Risk
- Whether PsiQuantum can deliver on the rigorous validation and verification requirements set by DARPA.
- Government Partnerships
- How the expanded scope and pace of QBI's work will impact PsiQuantum’s timeline for deploying fault-tolerant quantum computers.
- Industry Timelines
- The pace at which utility-scale quantum computing becomes a reality, given DARPA’s projection of someone building such a computer by 2033.
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