The Australian government has recently committed nearly A$1 billion towards the advancement of quantum computing, a field currently dominated by the US and China. One of the major recipients of this funding is PsiQuantum, a company co-founded by two Australian researchers. PsiQuantum will receive A$470 million from both the federal government and the state government of Queensland, amounting to a total of A$940 million. In exchange, the company will construct and operate its quantum computers in Brisbane, Australia.
The substantial financial commitment by the Australian government positions PsiQuantum as one of the leading dedicated quantum computing companies globally, alongside tech giants like IBM, Google, and Microsoft. According to Stephen Bartlett from the University of Sydney, this investment is a strategic move by Australia to establish sovereignty in the quantum computing realm and foster a quantum technology ecosystem.
PsiQuantum distinguishes itself from other quantum computing companies by utilizing photonic chips made from particles of light known as photons. Their recent breakthrough in building more powerful and reliable machines using standard semiconductor fabrication techniques showcases their progress in this area.
Australia has actively contributed to the advancement of quantum computing with researchers like Jeremy O’Brien and Terry Rudolph establishing themselves in the field. The government’s investment aims to attract these talented individuals back to Australia, encouraging them to contribute to the growth of quantum computing within the country. With this move, Australia signals its intention to be a significant player in the quantum computing space on the global stage.
