Portfolio update – Diraq

Summary by AI BETAClose X

UIL Limited announced that its investee company, Diraq, has signed a Letter of Intent with the U.S. Department of Commerce for up to $38 million in federal funding from the CHIPS Research and Development Office to support the production and scaling of fault-tolerant silicon quantum computing processors. This funding will accelerate Diraq's roadmap for an end-to-end quantum supply chain, leveraging its silicon-based quantum processors capable of containing millions of qubits. As of April 30, 2026, UIL's investment in Diraq, held through Allectus Quantum Holdings Limited, represented 8.4% of UIL's total investment portfolio.

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