They plan to make a million qubit quantum computer with error correction. Error correction is at the center of everything they do. They plan to reach the million error-corrected qubit level within 5 years. A million qubits will likely mean about 1000 error corrected qubits.

PsiQuantum is based in Palo Alto and has been working on their designs for 5 years.

Microsoft is one of the strategic backers of PsiQuantum.

Google, Intel, IBM, Honeywell, D-Wave Systems, Rigetti and IonQ are all developing quantum computers using a variety of technologies. Most are using superconducting qubits and IonQ is using trapped ion. Most are at 50-100 qubits. D-Wave has about 5000 qubits but they are using a quantum annealing system with less powerful qubits. The 50-100 noisy superconducting qubits have no error correction.

1000 error corrected qubits should be definitively better than conventional computers for the problems where the physics of quantum computing give quantum systems an advantage.