Jacobs to Support the Delivery of PsiQuantum's New Quantum Computing Facility

Rhea-AI Summary

Jacobs (NYSE: J) was selected as Owner's Representative by PsiQuantum to support delivery of a new quantum computing facility at the Illinois Quantum and Microelectronics Park in Chicago, with ground broken in September 2025.

Jacobs will provide project management, architectural and engineering consultancy, and oversight across design and construction as PsiQuantum builds an intermediate-scale test system and later phases toward a utility-scale, fault-tolerant quantum computer. The award expands Jacobs' global collaboration with PsiQuantum, including related projects in Brisbane and California. Jacobs reported approximately $12 billion in annual revenue and ~45,000 employees.

Positive

• Selected as Owner's Representative for Chicago quantum facility
• Groundbreaking occurred in September 2025
• Expanded global collaboration with PsiQuantum in Australia and California
• Services include end-to-end project and engineering oversight

Negative

• Project timeline subject to funding and legislative timing uncertainties
• Forward-looking risks include tax, tariff, and macroeconomic changes

News Market Reaction

-3.79% 2.2x vol

74 alerts

-3.79% News Effect

-7.8% Trough in 3 hr 59 min

-$655M Valuation Impact

$16.63B Market Cap

2.2x Rel. Volume

On the day this news was published, J declined 3.79%, reflecting a moderate negative market reaction. Argus tracked a trough of -7.8% from its starting point during tracking. Our momentum scanner triggered 74 alerts that day, indicating high trading interest and price volatility. This price movement removed approximately $655M from the company's valuation, bringing the market cap to $16.63B at that time. Trading volume was elevated at 2.2x the daily average, suggesting increased selling activity.

Data tracked by StockTitan Argus on the day of publication.

Project positions Illinois as a leading hub for quantum technology

Award builds on Jacobs' global support for quantum computing leader

DALLAS, Nov. 19, 2025 /PRNewswire/ -- Jacobs (NYSE: J) was selected by PsiQuantum, a global leader in quantum computing, as the Owner's Representative for its new quantum computing facility at the Illinois Quantum and Microelectronics Park in Chicago, delivering end-to-end support across design and construction.

The Chicago project broke ground in September, and during the initial phase of site development, PsiQuantum will build an intermediate-scale test system, which will further validate quantum architecture and performance. Following this milestone, the company will initiate additional construction phases, ultimately working toward the deployment of the first utility-scale, fault-tolerant quantum computer in the United States.

Jacobs President of Global Operations Patrick Hill said: "At Jacobs, we work with clients at the leading edge of technology. By continuing our collaboration with PsiQuantum on projects in the U.S. and Australia, we are powering the next era of quantum computing infrastructure, and our global multidisciplinary approach and mission-critical design experience delivers solutions that are shaping the future of technology."

PsiQuantum Chief Operations Officer Fariba Danesh said: "Building and deploying the world's first utility-scale quantum computers requires cutting-edge talent and partnerships. That's why PsiQuantum is proud to draw from the support, experience, and expertise of the Jacobs team in both the United States and Australia."

Jacobs will provide project management, architectural and engineering consultancy services and oversee the collaboration among architects, engineers, contractors, and stakeholders, while proactively managing budgets, schedules, and quality to drive project excellence.

This project expands Jacobs global collaboration with PsiQuantum. Jacobs is currently delivering master planning, schematic design, and owner's engineer services for what is poised to be one of the world's first utility-scale, fault tolerant quantum computers in Brisbane, Australia. 

Additionally, Jacobs is working with PsiQuantum in the development of test and assembly facilities in California, incorporating R&D efforts and other learnings into design work for the Brisbane and Chicago sites.

Quantum computers are regarded as the next significant advancement in computing, with the potential to solve problems that cannot be solved with conventional computers in vital industries like pharmaceuticals, chemicals, energy, national defense and agriculture.

At Jacobs, we're challenging today to reinvent tomorrow – delivering outcomes and solutions for the world's most complex challenges. With approximately $12 billion in annual revenue and a team of almost 45,000, we provide end-to-end services in advanced manufacturing, cities & places, energy, environmental, life sciences, transportation and water. From advisory and consulting, feasibility, planning, design, program and lifecycle management, we're creating a more connected and sustainable world. See how at jacobs.com and connect with us on LinkedIn, Instagram, X and Facebook. 

Certain statements contained in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not directly relate to any historical or current fact. When used herein, words such as "expects," "anticipates," "believes," "seeks," "estimates," "plans," "intends," "future," "will," "would," "could," "can," "may," and similar words are intended to identify forward-looking statements. We base these forward-looking statements on management's current estimates and expectations, as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements including, but not limited to, uncertainties as to, the timing of the award of projects and funding and potential changes to the amounts provided for under the Infrastructure Investment and Jobs Act and other legislation and executive orders related to governmental spending, including any directive to federal agencies to reduce federal spending or the size of the federal workforce, and changes in U.S. or foreign tax laws, including the new tax legislation enacted in the U.S. in July 2025, statutes, rules, regulations or ordinances, including the impact of, and changes to tariffs and retaliatory tariffs or trade policies, that may adversely impact our future financial positions or results of operations, as well as general economic conditions, including inflation and the actions taken by monetary authorities in response to inflation, changes in interest rates and foreign currency exchange rates, changes in capital markets, the possibility of a recession or economic downturn, and increased uncertainty and risks, including policy risks and potential civil unrest, relating to the outcome of elections across our key markets and elevated geopolitical tension and conflicts, among others. For a description of these and additional factors that may occur that could cause actual results to differ from our forward-looking statements, see our filings with the U.S. Securities and Exchange Commission. The company is not under any duty to update any of the forward-looking statements after the date of this press release to conform to actual results, except as required by applicable law.

For press/media inquiries:
media@jacobs.com  

 

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SOURCE Jacobs

FAQ

What role will Jacobs (J) play in PsiQuantum's Chicago quantum facility?

Jacobs will act as Owner's Representative, providing project management, architectural and engineering consultancy, and construction oversight.

When did construction start for PsiQuantum's Illinois quantum facility announced with Jacobs (J)?

Groundbreaking for the Chicago site occurred in September 2025.

How does the Chicago project fit into PsiQuantum's broader plans with Jacobs (J)?

Chicago will host an intermediate-scale test system, preceding additional phases toward a utility-scale, fault-tolerant quantum computer; Jacobs also supports Brisbane and California efforts.

Does the announcement state financial terms or contract value for Jacobs (J)?

No; the press release describes the awarded role and services but does not disclose contract value.

What risks did Jacobs (J) identify that could affect the PsiQuantum project timeline?

The company cited risks including funding timing, changes in legislation or tax laws, tariffs, and broader economic conditions.