The Toronto-based quantum computing firm announced late Wednesday that it’s negotiating the financing with the federal and Ontario governments, which have yet to conduct due diligence or sign final agreements. (The Logic)

Talking point: Xanadu is among a group of firms around the world trying to build useful machines that do math and solve problems based on quantum mechanics. It’s aiming to build a full-size data centre in Toronto by the end of the decade. To fill that facility, Xanadu will need to produce a lot of quantum hardware. The public funding, if it comes through, will help the firm add the capability to test, prepare and assemble components at Canadian sites. Xanadu has already brought some production in-house, launching a $10-million chip packaging line in Toronto last June. The firm was previously awarded $40 million from the flagship federal innovation fund in January 2023, and is one of four Canadian quantum computing firms set to get $23 million each from Ottawa’s new program to keep such champions in the country.