Australia and PsiQuantum Sign bn Deal to Build First ‘Useful’ Quantum Computer

Australia has announced a major breakthrough in quantum computing technology, with plans to invest over one billion dollars in the construction of the world’s first commercially viable quantum computer. The project, to be based in Brisbane, is a joint effort between the federal and Queensland governments, which have each committed 0 million towards supporting PsiQuantum, a software company leading the innovation.

PsiQuantum aims to create a large-scale quantum computer capable of error correction by 2029, a milestone that could pave the way for groundbreaking advancements in various industries. The company envisions a future where quantum computers are an integral part of everyday life, offering error-free solutions for complex problems in fields such as industry, research, and defense.

According to Australia’s Chief Scientist, Cathy Foley, quantum computing has the potential to revolutionize computational power by harnessing principles of physics previously inaccessible to traditional computers. She highlighted the machine’s ability to tackle intricate problems ranging from optimizing transportation routes to scheduling high school timetables, showcasing the vast possibilities that quantum computing could unlock.

PsiQuantum, founded by two Australian graduates from the University of Queensland, Terry Rudolph and Jeremy O’Brien, will be relocating their operations to Brisbane as part of the investment deal. The company’s supercooled quantum computer, set to be the size of a warehouse, will mark a significant milestone in technological advancement, showcasing Australia’s commitment to fostering domestic innovation in the rapidly evolving field of quantum computing.

The Queensland government has also shown support for the initiative by allocating million to explore the potential applications of quantum computing in assisting with the logistics of the upcoming 2032 Brisbane Olympics. Dr. Foley expressed excitement within the scientific community over the government’s investment in local technological development, emphasizing the importance of retaining innovative technologies within Australia to avoid a repeat of past instances where groundbreaking inventions were taken offshore.

The construction of the world’s first commercially viable quantum computer in Brisbane marks a significant milestone in Australia’s technological advancement, positioning the country as a global leader in quantum computing research and development. With the potential to revolutionize industries and drive innovation, the project signifies a new era of computation that could shape the future of technology for years to come.