PsiQuantum has appointed veteran computing executive Victor Peng as Interim CEO, shifting co-founder Jeremy O’Brien to the role of Executive Chairman as the company prepares for a pivotal phase of scaling and deployment. This leadership transition arrives as PsiQuantum targets the delivery of the world’s first utility-scale quantum computers by February 10, 2026, building on a decade of core technology development including its Omega silicon photonic chipset and planned sites in Australia and Chicago. “PsiQuantum was founded to realize the potential of quantum computing, and the team has spent years doing the hard technical work to make that possible,” said Jeremy O’Brien, Co-Founder and Executive Chairman of PsiQuantum. Peng’s experience scaling complex technologies will now focus on translating this foundational work into deployed quantum systems.
Victor Peng Appointed Interim CEO, O’Brien to Executive Chairman
A $49 billion acquisition veteran is now steering the charge at PsiQuantum, as Victor Peng assumes the role of Interim CEO, with co-founder Jeremy O’Brien transitioning to Executive Chairman on February 10, 2026. This leadership shift arrives following a pivotal year for the quantum computing firm, marked by over $1 billion raised in Series E funding and groundbreaking on a large-scale quantum computing site in Chicago, Illinois. PsiQuantum has also forged a significant partnership with NVIDIA, focusing on silicon photonics and AI supercomputing, alongside collaborations with Airbus and Lockheed Martin. These advancements underscore the company’s progress toward building practical, fault-tolerant quantum computers. Peng’s extensive background in scaling complex technologies—previously as President at Advanced Micro Devices, Inc. (AMD) and CEO of Xilinx—is expected to accelerate PsiQuantum’s mission. He will focus on the company’s business, financial, and operational strategies, including the development of utility-scale quantum computing systems in both Australia and the United States. “As we shift into large-scale deployment and execution, Victor brings exactly the leadership we need.”
Peng emphasized the importance of execution, stating, “PsiQuantum has done the hard work to establish a real foundation for utility-scale quantum computing — from silicon photonics to fault-tolerant architectures and large-scale deployments.” He intends to build upon the foundation established over the past decade, which includes the development of the Omega silicon photonic chipset and new cryogenic form factors. The leadership transition signals a move from core technology development to large-scale deployment, leveraging Peng’s experience in navigating major computing transitions.
Omega Chipset & Utility-Scale Quantum Computing Deployments
PsiQuantum is actively translating years of foundational research into tangible quantum infrastructure, evidenced by advancements in both hardware and strategic site selection. The company has developed Omega, a mass-manufacturable silicon photonic chipset, crucial for scaling fault-tolerant quantum computers, and is leveraging existing semiconductor manufacturing processes at GlobalFoundries in New York. This focus on manufacturability distinguishes PsiQuantum’s approach, aiming to bypass limitations inherent in other quantum computing architectures. Beyond the chipset, the company is simultaneously establishing utility-scale quantum computing sites in Brisbane, Australia, and Chicago, Illinois, signaling a move toward practical deployment.
These deployments aren’t solely about hardware; PsiQuantum is also building the surrounding ecosystem. In 2025, the company launched Construct, a dedicated software platform for developing fault-tolerant algorithms, and secured collaborations with industry leaders like Airbus and Lockheed Martin to explore application-specific quantum solutions.
$1 Billion Series E Funding & DARPA QBI Advancement
PsiQuantum’s trajectory accelerated significantly in 2025, culminating in a substantial $1 billion Series E funding round and advancement to the final stage of the Defense Advanced Research Projects Agency’s (DARPA) Quantum Benchmarking Initiative (QBI). This financial injection, secured from a consortium of investors, directly fuels the company’s ambitious plans for large-scale quantum computer deployment, specifically at sites already under development in Brisbane, Australia, and Chicago, Illinois. Beyond capital, the QBI progression validates PsiQuantum’s approach to fault-tolerant quantum computing against rigorous, government-led evaluation criteria.
The company’s technological foundation, built over the past decade, includes the Omega silicon photonic chipset—manufactured at GlobalFoundries in New York—and a dedicated software platform, Construct, designed for developing fault-tolerant algorithms. This commitment to manufacturability is a key differentiator, allowing PsiQuantum to leverage existing semiconductor infrastructure for rapid scaling. He emphasized the immediate focus is now on “execution,” building on the work of the founding team.
PsiQuantum has done the hard work to establish a real foundation for utility-scale quantum computing – from silicon photonics to fault-tolerant architectures and large-scale deployments.
Victor Peng, Interim CEO of PsiQuantum
