Australia To Deploy PsiQuantum Quantum Computer
The Australian federal government and Queensland state government have invested nearly $600 million in quantum computing startup PsiQuantum to create the world’s first commercially feasible quantum computer. PsiQuantum hopes to create a bug-fixing computer by 2029. As part of the deal, Silicon Valley-based PsiQuantum will move its base to Brisbane, Australia, where it will build its warehouse-sized supercooled quantum computer.
The authorities of Australia and the state of Queensland will finance the project in equal shares – approximately $310 million. In exchange for the investment, PsiQuantum will create a regional headquarters in the state of Queensland, from where it will manage its quantum systems. The new computer is expected to be operational by the end of 2027. It will be used to solve complex problems in a variety of industries, including renewable energy, minerals and metals mining, healthcare and transportation.
Considered the next step in computing, quantum computing has until now been largely a private practice, with tech giants such as Google, IBM and Microsoft investing billions in developing the technology.
