Diraq and PsiQuantum Secure $196M US Equity Funding via CHIPS Act
Diraq and PsiQuantum have obtained commitments totaling $196 million in equity funding from the US Department of Commerce. This funding is part of a broader $2.013 billion initiative under the CHIPS and Science Act aimed at enhancing US quantum computing capabilities.
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Diraq has secured a commitment of $38 million while PsiQuantum will receive $100 million from the US Department of Commerce. This funding is part of a total package of $2.013 billion under the CHIPS and Science Act, which also includes significant allocations for IBM and GlobalFoundries.
The funding aims to develop infrastructure for silicon-based quantum processors, with Diraq focusing on scalable production using existing semiconductor technologies. The investment underscores the US government's recognition of the strategic importance of quantum technology, which is critical for national competitiveness and various sectors, including defense and biopharmaceuticals.
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