PsiQuantum announced it will build the world’s first utility-scale quantum computer at a strategically located site near the Brisbane Airport in Brisbane, Australia. The Australian Commonwealth and Queensland Governments will invest $940 million AUD ($620 million USD) in PsiQuantum through equity, grants, and loans.
PsiQuantum has an aggressive plan to operationalize the site by the end of 2027. And a fault-tolerant quantum computer will be able to solve commercially valuable problems across industries built-in chemistry, math, and physics, impacting critical industries – including renewable energy, minerals and metals, healthcare, and transportation – that will propel the global economy for decades.
The quantum computing industry has faced complicated scaling challenges in building a quantum computer with enough physical qubits to enable error correction, making it capable of delivering on quantum computing’s promise. And PsiQuantum has scaled its fusion-based architecture with a photonics- approach, encoding qubits into particles of light, and leveraging advanced infrastructure in the semiconductor manufacturing industry to fabricate and test millions of photonic devices. PsiQuantum’s first utility-scale system will be in the regime of 1 million physical qubits and hyperscale in footprint with a modular architecture that can leverage existing cryogenic cooling technologies.
PsiQuantum works with industry leaders worldwide whose products and technologies are rooted in fundamental chemistry and science. These include the development of new drugs, more efficient renewable energy technologies, including batteries and solar cells, and step-change improvements in processes for producing renewable energy sources such as green ammonia and green hydrogen.
KEY QUOTES:
“A utility-scale quantum computer represents an opportunity to construct a new, practical foundation of computational infrastructure and in so doing ignite the next industrial revolution. This platform will help solve today’s impossible problems and will serve as tool to design the solutions we so desperately need to safeguard our future. We’re thrilled to partner with the Australian and Queensland governments as our team at PsiQuantum takes a massive step forward in our mission to help deliver on the promise of quantum computing.”
- Professor Jeremy O’Brien, PsiQuantum CEO
“Today’s endorsement from the Australian government establishes another critical milestone in PsiQuantum’s mission to deliver the world’s first useful quantum computers. With a utility scale quantum computer in sight, our applications teams have been working with leading companies in pharmaceuticals, semiconductor manufacturing, aerospace, chemicals, and financial services to ensure that fault tolerant quantum applications are ready to deploy when the system is operational.”
- PsiQuantum Chief Business Officer Stratton Sclavos
