<img src="https://ml.globenewswire.com/Resource/Download/196d8c50-08ab-4e0e-ac17-de5ca817449b?size=2" nborder="0" align="left" hspace="5" vspace="5" title="DiraqLogo_BlackText.png" alt="Diraq"/>The proposed award through the CHIPS program would accelerate development of U.S. infrastructure and production capabilities to manufacture and deploy silicon-based quantum processors, leveraging Diraq’s proven technologiesPALO ALTO, Calif., May 21, 2026 (GLOBE NEWSWIRE) -- <a href="https://www.globenewswire.com/Tracker?data=retmvVbcZNrEVqbtShxM5S2y77j1G3NQ8_FQzt9eYqANZ2Amnpxzju3DpCQGdImQcVVlXNSo1o5qY56p938vxw==" rel="nofollow" target="_blank" title="">Diraq</a>, the quantum computing pioneer, today announced it has signed a Letter of Intent (LOI) with the U.S. Department of Commerce for up to $38 million in proposed federal funding from the CHIPS Research and Development Office. This award would support production and scaling of fault-tolerant silicon quantum computing processors via the U.S. semiconductor industry. "The Department of Commerce’s incentives strengthen and accelerate U.S. quantum leadership and technological resilience,” said Bill Frauenhofer, Executive Director of Semiconductor Investment and Innovation. “Quantum computing has significant implications for national defense, advanced materials and biopharmaceutical discovery, financial modeling and energy systems.” “The U.S. Government has played an important role for over 25 years in funding silicon quantum research through entities such as the U.S. Army Research Office and more recently DARPA. The foundational advancements that came from this work underpin Diraq’s technology today,” said Andrew Dzurak, Diraq Founder and CEO. “Silicon-based processors are the most economical and scalable approach to utility-scale quantum computing. By scaling our CMOS qubit technology in the United States, we are defining the industrial standard for the next era of supercomputing and cementing the nation’s role as a global architect of fault-tolerant quantum systems." Diraq is pioneering the use of silicon-based quantum processors, which have the ability to contain millions of qubits on a single chip, and are fabricated with existing semiconductor manufacturing processes. No other approach offers a more economical or scalable path to quantum infrastructure at industrial scale. This investment will accelerate Diraq’s roadmap to enable an end-to-end quantum supply chain—including cryostats, chips, and packaging—with fully American production. "This LOI is a powerful signal that the U.S. government recognizes silicon-based quantum processors as a viable architecture to securing domestic computing leadership," said Dr. William Jeffrey, Chairman of the Board for Diraq and former Director of the National Institute of Standards and Technology (NIST). "Quantum technology is a matter of national competitiveness. Diraq's approach, built on decades of foundational research, is uniquely positioned to deliver scalable, fault-tolerant quantum systems." Diraq’s quantum computers are engineered to achieve utility-scale unit economics by utilizing existing CMOS manufacturing. Shortlisted for Stage B of DARPA’s Quantum Benchmarking Initiative (QBI), Diraq’s system architecture is designed to meet the following industrial specifications: <ul><li>Scalable Cost: Sub-dollar pricing at less than $1 per physical qubit.</li><li>Infrastructure Ready: Compact, rack-deployable units compatible with existing data center environments. </li></ul> “As quantum computing enters its industrial phase, the challenge shifts from scientific discovery to engineering and scale, making reliable access to advanced semiconductor infrastructure essential,” said Gregg Bartlett, Chief Technology Officer at GlobalFoundries. “We’re proud to partner with Diraq to advance silicon-based quantum processors, leveraging our cryo-CMOS quantum capabilities and broad technology portfolio under one roof to enable quantum systems at scale within a trusted domestic ecosystem.” Founded in Sydney, Australia, Diraq has U.S. offices and labs in Palo Alto and Chicago, and will soon open a significant new operation in Los Angeles. The company is growing its team and business in the United States and is actively working with domestic partners to further accelerate the U.S. quantum ecosystem. About Diraq Diraq is commercializing quantum computing with a silicon-based approach that uses existing CMOS processes. By utilizing the same manufacturing methods that produce today’s semiconductor components, Diraq is pioneering a faster, more economical road to commercial-scale quantum computing. The company’s proprietary ‘quantum dot’ technology is based on 20 years of research by founder Andrew Dzurak, designed to enable millions of qubits on a single chip, for powerful and scalable deployments. Diraq’s mission is to revolutionize quantum computing by unlocking the scale needed for useful commercial applications. Founded in Sydney, Diraq has more than 100 team members globally, with operations in Melbourne, Palo Alto, Los Angeles, and Chicago. To learn more, visit diraq.com, or follow Diraq on <a href="https://www.globenewswire.com/Tracker?data=hZTbvq98Ojys-qdiFz0Hd2Atzi0yETMpQp2a32-2vMtv-MsS39PgjAMY0ONh4RMAMH3uy9aVklTXPIcfuMSN-5WqANJUFN0H50_d8yst-LA=" rel="nofollow" target="_blank" title="">LinkedIn</a>, <a href="https://www.globenewswire.com/Tracker?data=FT7_YwVEPzM3bbVZoL2Oi4LIsUjk1IiGVA7o00frL5Zz_QzPYkce0lJOi3eB55s6fiWAWzk-tmYyJF3wHnrNK6BnNQWy9mN-jPdvUzlvRUM=" rel="nofollow" target="_blank" title="">YouTube</a>, <a href="https://www.globenewswire.com/Tracker?data=7v-TohvJQyer-VJX8p64zCOgN758LOdtnPeLd4JTbOk7WmXxYAjmNmlYFARz89n9AYioMXijkDOKDzezdpIKkOzsxK6SHqwd76AP2zcTfXw=" rel="nofollow" target="_blank" title="">Substack</a>, and <a href="https://www.globenewswire.com/Tracker?data=5yiyypTdxUvVVALO5UjoWXtTGI1RucR3MGBNAE7dQniXdMVZiOl2QkGixXot7byeFLYAXuXIw8hidCgN1ZDAYA==" rel="nofollow" target="_blank" title="">X</a>. Contact: media@diraq.com <img alt="" src='https://ml.globenewswire.com/media/NGUwMTUxNWYtYWY2OC00YjU2LThhMDctMjExYTBlYTQ0MWIwLTUwMDE2Mjk0MS0yMDI2LTA1LTIxLWVu/tiny/Diraq.png' referrerpolicy='no-referrer-when-downgrade' />

GlobeNewswire Inc.

Diraq Signs $38M Letter of Intent with the U.S. Department of Commerce under CHIPS Act to Scale Domestic Quantum Computing Processors Using Silicon Spin Technology

Latest news from the world of business and finance – both local and global

MONEY FM 89.3 is Singapore's first and only Business and Personal Finance station, featuring local and international business and financial news.

MONEY FM 89.3

Discover newsletters from our DJs on LinkedIn