Department of War's Office of Strategic Capital Signs $150 Million Conditional Loan Commitment With PsiQuantum

Oct. 8, 2026 |

The Department of War's Office of Strategic Capital (OSC) announced today a $150 million conditional loan commitment to PsiQuantum, Corp. to enhance the company's advanced manufacturing and prototyping capabilities in the United States. Building on OSC's ongoing collaboration with the Defense Advanced Research Projects Agency (DARPA)'s Quantum Benchmarking Initiative, the proposed loan follows recently awarded funding agreements with DARPA and CHIPS and supports PsiQuantum's novel photonic approach to developing the world's first commercially useful fault-tolerant quantum computer (FTQC). 

The potential financing executes on President Donald J. Trump's mandate to drive and sustain U.S. leadership in the strategically important field of quantum information science and technology. Quantum computing is now regarded, alongside Super Intelligence (SI) and semiconductors, as a foundational technology for future economic and military advantage.  

"OSC's proposed transaction with PsiQuantum directly aligns with President Donald J. Trump's mandate to accelerate development and commercialization of quantum computing. Quantum computing will provide transformational capabilities, and the Department of War's investment into PsiQuantum serves the mission of securing U.S. leadership in quantum computing in full alignment with Department of War objectives set forth by Secretary of War Pete Hegseth," said David A. Lorch, Director of the Office of Strategic Capital and Senior Advisor to Deputy Secretary of War Steve Feinberg. 

"Funding the development of fault-tolerant quantum computing is a national security imperative,"added Peter B. Zuckerman, Senior Managing Director at OSC. "We must scale this critical technology to secure our technological edge and deny adversaries a decisive strategic advantage."

"I applaud OSC for this strategic collaboration with DARPA and CHIPS, which demonstrates how the Department of War is moving at breakneck speed to meet President Trump's directive that the United States must lead in quantum. Quantum computing will shape the future of warfare and fundamentally change how the Joint Force solves its most complex operational challenges," said Emil Michael, Under Secretary of War for Research and Engineering. 

The conditional loan commitment between OSC and PsiQuantum specifies customary additional steps the company must take to proceed toward financial close, including satisfying financial, legal, technical, due diligence, and other requirements.

Carter to Visit Boeing, DARPA on Technology Tour

By Jim Garamone DoD News, Defense Media Activity

WASHINGTON, September 8, 2015 — Defense Secretary Ash Carter will travel to St. Louis tomorrow to speak with workers at Boeing and to kick off the Defense Advanced Research Projects Agency’s “Wait, What? Forum,” Pentagon Press Secretary Peter Cook said today.

The trip allows the defense secretary to highlight the many ways private advanced technology firms can work with the department, Cook said.

Carter is scheduled to visit Boeing’s operations, visit with leaders and workers and thank the employees for their contributions to the technological advantage the American military enjoys today, the press secretary said.

Carter will then deliver remarks to open the “Wait What?” Future Technology forum organized by DARPA. “This forum is a first of its kind outreach event, bringing together 1,200 scientists, engineers and innovators from across the country to generate new ideas and foster collaboration with the Department of Defense,” he said.

Carter will lunch with some of the agency’s rising stars, Cook said, “and he’ll also spend some time seeing first hand some of the new technologies DARPA is developing and he’ll be meeting with some of the folks behind those technologies while he is there.”

The trip continues the defense secretary’s emphasis on opening doors to innovation and new ways of doing business, the press secretary said. Carter has visited Silicon Valley twice since he has been in office, and in both visits he emphasized the importance of maintaining the U.S. military’s technological edge.

Cook said that people should view tomorrow’s trip -- and the secretary’s previous trips -- as a sign “from this secretary of defense and this Department of Defense that we’re open for business and we are eager to do business with any company, any innovators out there who might have technology that could bolster the warfighter, bolster this department going forward.”

As well-equipped as the U.S. military is today, there are still opportunities for new technologies, Cook said. DoD still seeks “to grab onto new technology, new ideas that perhaps people hadn’t yet considered.”