Pentagon offers PsiQuantum a conditional loan of up to $150m

The US Department of War's Office of Strategic Capital has issued a conditional commitment for a loan of up to $150 million to PsiQuantum. The funds would go to PsiFactory, the company's 140,000-square-foot hub in Milpitas, California, where it develops prototypes of fault-tolerant quantum computers. It is the office's second conditional loan in two days, after offering Wolfspeed up to $1.5bn.

• Loan of up to $150m would fund PsiFactory's 140,000-square-foot hub in Milpitas
• Money would buy test equipment, assembly infrastructure and cryogenic systems
• A day earlier the same office offered Wolfspeed up to $1.5bn
• In July PsiQuantum expanded its DARPA agreement to $125m