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Xanadu to Get $287 Million for Data Center as SPAC Deal Nears

Bloomberg
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Xanadu Quantum Technologies will receive up to C$390 million ($287 million) in Canadian government funding to build its first quantum-powered data center in Ontario. The investment aims to bolster domestic engineering and manufacturing capabilities for quantum computing infrastructure, marking a major public-private partnership in the sector. The deal coincides with Xanadu’s impending public listing via a SPAC merger, signaling growing investor confidence in quantum technology commercialization. Ontario’s data center will serve as a hub for quantum research and development, positioning Canada as a leader in next-generation computing infrastructure. The funding underscores government efforts to accelerate quantum advancements amid global competition, with applications spanning cryptography, optimization, and AI.
Xanadu to Get $287 Million for Data Center as SPAC Deal Nears

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TechnologyStartupsGiftExpandChristian Weedbrook, founder and chief executive officer of XanaduPhotographer: Chloe Ellingson/BloombergGiftGift this articleAdd us on GoogleContact us:Provide news feedback or report an errorConfidential tip?Send a tip to our reportersSite feedback:Take our SurveyNew WindowGiftBy Mathieu DionMarch 12, 2026 at 1:35 AM GMT+5:30BookmarkSaveTranslateTakeaways by Bloomberg AISubscribeXanadu Quantum Technologies Inc. is set to receive as much as C$390 million ($287 million) in government financial aid to build the engineering and domestic manufacturing capabilities for its first quantum-powered data center in Ontario, a deal that’s being negotiated just as the company is about to go public.“It’s a huge validator of our approach to build large-scale quantum computers using photonics,” Chief Executive Officer Christian Weedbrook said in an interview.

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Source: Bloomberg