Sigh. This is being misreported, as always. Photonic computing is not going to give us "million times" faster CPUs.
We compute with electrons because they interact with each other strongly. Light only interacts with itself weakly. You need much more power and larger components to make it happen and this is a limit imposed by physics, not engineering. A photonic computer might be possible but it would have to be either very dumb or very big and hot.
Where photonic computing *will* make a difference is in interconnects.
It would be wonderful if all RAM was on the same die as the CPU, so that lookup times were close to zero, but this just isn't feasible from manufacturing yield and heat management POVs. So instead we have a few MB of precious cache on-chip, with the rest of RAM on chips. But electrical signals only move so fast; waiting for the data to arrive from RAM puts a bottleneck on data-intensive computing.
Photonic computing has the potential to do those connections with light, making all RAM effectively as fast as cache.
If you want to see a radical increase in CPU power, look to graphene. That has the potential to allow the same sort of computing we already do with electrons, but 100x faster. Still plenty of work to be done there.