Australian quantum computing company PsiQuantum has appointed former AMD president Victor Peng as interim CEO, with the company’s former leader and co-founder Jeremy O’Brien moving into the role of executive chairman.

The company is now in the process of searching for a permanent CEO.

Peng retired from AMD in August 2024. He worked at the company between 2005 and 2008, serving as vice president of silicon engineering, before leaving for a 14-year stint at semiconductor firm Xilinx, where he ended up as president and CEO. When AMD acquired Xilinx for $35 billion in 2022, Peng was appointed AMD's president.

As interim chief exec, Peng will lead PsiQuantum’s day-to-day operations, managing its business, financial, and operational strategies. This will include advancing the company’s quantum computing systems in Australia and Chicago, overseeing technical development across silicon photonics and other core platforms, and working closely with the rest of the leadership team, PsiQuantum said.

“PsiQuantum has done the hard work to establish a real foundation for utility-scale quantum computing — from silicon photonics to fault-tolerant architectures and large-scale deployments,” said Peng. “The task ahead is execution. Jeremy and the founding team have built something truly unique, and I’m excited to partner closely with them to help translate their mission into deployed systems that unlock this technology.”

O’Brien added: “PsiQuantum was founded to realize the potential of quantum computing, and the team has spent years doing the hard technical work to make that possible. As we shift into large-scale deployment and execution, Victor brings exactly the leadership we need. He has guided multiple major computing platform transitions, and I’m excited to partner closely with him as we deliver on PsiQuantum’s mission.”

Founded in 2016, PsiQuantum says its mission is to “build and deploy the world’s first useful quantum computer.” The company claims to have a “fast and feasible path to large-scale fault-tolerant systems” by using existing technologies, such as high-power cryogenic systems.

In February 2025, PsiQuantum unveiled its Omega quantum photonic chipset, purpose-built for utility-scale quantum computing.

The company also has an R&D facility in Daresbury in the north west of England, which focuses on large-scale cryogenic infrastructure to support the development of advanced cryogenic systems. Former Intel CEO Pat Gelsinger paid a visit to the site in September 2025.