PsiQuantum signed an expanded $125 million agreement with DARPA under the Quantum Benchmarking Initiative (QBI), where it remains one of only two companies in the program's final Stage C validation phase. The performance-based award funds testing of PsiQuantum's hardware, software, and infrastructure at its Milpitas, California, and Chicago facilities, building on a $31.8 million Stage C award from September 2025. It follows a separate, still-proposed $100 million CHIPS Act agreement PsiQuantum announced with the Commerce Department in May.

As a private company, government validation contracts are one of the only external, dollar-denominated signals of PsiQuantum's technical credibility. $125 million dwarfs the prior $31.8 million award, meaning DARPA is scaling up its bet, not just renewing it.

 "Performance-based" is the key phrase, this isn't free money, it's funding tied to DARPA validating specific technical milestones. CEO Victor Peng put a public number on the table too: first commercial-scale machine "around 2030." That's a specific, checkable claim now on record.

PsiQuantum Newsroom, "PsiQuantum Signs $125 Million Agreement with DARPA," July 22, 2026. https://www.psiquantum.com/news-import/psiquantum-signs-125-million-agreement-with-darpa