Australian Government Invests Nearly A$1 Billion in Quantum Computing: PsiQuantum Establishes Operations in Brisbane

The Australian government has recently made a significant investment of nearly A$1 billion into the development of quantum computers. This move is aimed at establishing a presence in a global race that is currently dominated by countries like the US and China.

PsiQuantum, a company headquartered in the US but co-founded by two Australian researchers, will receive A$470 million from both the federal government and the state government of Queensland, totaling A$940 million. In exchange, the company will establish operations in Brisbane, Australia, where it will build and operate successive generations of quantum computers.

The substantial investment signifies a serious commitment from the Australian government, positioning PsiQuantum as one of the largest dedicated quantum computing companies globally. While major tech companies like IBM, Google, and Microsoft have poured billions into quantum computing research, Australia’s funding signals a significant step in the advancement of this technology.

Stephen Bartlett of the University of Sydney views this announcement as Australia asserting its sovereign capability in quantum computing and fostering a quantum technology ecosystem. He believes that this move will attract more researchers to Australia and help create a robust industry around this technology.

Quantum computers have the potential to outperform traditional computers in certain tasks. Although their practical applications have not yet fully materialized, research teams in various countries are racing to develop larger and more reliable quantum machines in hopes of unlocking their full capabilities. While many teams are working with superconductors, PsiQuantum’s unique approach involves using photons, or particles of light, which was previously considered a challenging method to scale up. The company’s recent breakthrough in using standard semiconductor fabrication processes to build photonic chips for quantum machines has garnered attention in the field.

Australia has exported a generation of quantum researchers, including PsiQuantum co-founders Jeremy O’Brien and Terry Rudolph. The government’s investment is expected to attract these talented individuals back to Australia