Breaking Quantum Frontiers: Australia’s A$1 Billion Investment in Quantum Computing
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.
Stephen Bartlett from the University of Sydney views this investment as a strategic move by Australia to establish sovereignty in the quantum computing realm and foster a quantum technology ecosystem. 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.
PsiQuantum distinguishes itself by utilizing photonic chips made from particles of light known as photons, a method that was previously considered challenging to scale up. Their recent breakthrough, utilizing standard semiconductor fabrication techniques, showcases their progress in building quantum machines. Quantum computers possess the potential to solve certain problems much faster than traditional computers. While practical applications have not yet been fully realized, research teams across various countries are striving to develop more powerful and reliable machines.
The Australian government’s investment aims to attract talented individuals back to Australia and encourage 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.
