Canada loans C$195 million to Xanadu Quantum for Toronto photonics plant
Canada will loan C$195 million (about $140.78 million) to Xanadu Quantum to help build a new facility in Toronto for making photonic parts used in quantum computers.
Unveiled on Friday, August 28, 2026, this is the country's largest-ever support for the technology: pretty big news for anyone into tech or future jobs.
Room-temperature photonics avoids cryogenic cooling
Xanadu's tech stands out because it works at room temperature, skipping the need for those super cold setups other quantum computers require.
The government funding is part of a bigger C$390 million plan, and Xanadu is hoping to get matching support from Ontario.
The new plant could bring up to 275 jobs, and with customers like AMD and Tower Semiconductor already on board, CEO Christian Weedbrook says it will pay back the loan as its business grows.