Silicon Valley startup PsiQuantum is set to build its second quantum computer in Chicago by 2028 following a $760 million investment from the US State of Illinois.
The US$500 million incentive package, negotiated with the Illinois government, Cook County, and the City of Chicago, will flow directly to the company over 30 years.
It comes just months after PsiQuantum secured $940 million in equity and loans from the Australian and Queensland governments to build its first quantum computer in Brisbane.
The Illinois government will also spend US$500 million this financial year on Chicago’s Quantum and Microelectronics Park, where the the company will build a quantum computer as an anchor tenant.
In a statement on Thursday night (AEDT), PsiQuantum said it still aims to build the world’s first utility-scale quantum computer in Brisbane by the end of 2027, as promised to the Commonwealth and Queensland governments.
But it will now build its first US-based quantum computer at the former US Steel South Works property in Chicago, as well as partner with five Chicago-based universities on research projects and quantum educational programs.
PsiQuantum entered a similar skills agreement with Queensland universities earlier this month, with the company also flagging the possibility of greater collaboration with Chicago-based universities on Thursday.
“It is another incredible day for PsiQuantum and our partners, including the Australian Commonwealth and Queensland governments,” PsiQuantum chief executive and co-founder Professor Jeremy O’Brien said.
“Building and deploying these systems between strong allies is paramount to maximising quantum computing’s impact when it comes to addressing major challenges in areas like climate change and healthcare.
“We will work together with the Australian Commonwealth, Queensland, Illinois and US governments to continue to build a common computing environment.”
Of the Illinois state government’s $760 million quantum park investment, $304 million will be dedicated to building common-user cooling infrastructure with the University of Illinois, which will be tailored to PsiQuantum’s technology.
PsiQuantum will not own the site of its Chicago Quantum Computer Operations Center, but it will own the quantum computer situated there.
The United States Defense Advanced Research Projects Agency (DARPA), which will co-locate at the quantum park, has also agreed to invest up to US$140 million in the new facility.
It will deliver a Quantum Proving Ground facility at the quantum park to test and evaluate prototypes under its new Quantum Benchmarking Initiative.
DARPA partnered with PsiQuantum and Microsoft earlier this year on the Underexplored Systems for Utility-Scale Quantum Computing development program, which is expected to run to the end of March 2025.
Illinois governor Jay Pritzker said the state is “leading the charge with this first-of-its-kind quantum park to unite stakeholders, experts, and future generations of quantum leaders”.
In May, it was reported that the state was expecting its quantum computing campus would be worth a collective US$20 billion with PsiQuantum as its tenant.
The state government now expects the campus to generate up to US$60 billion in economic impact, as of mid-July.
Do you know more? Contact James Riley via Email.